Skepticism has been growing among investors over the billions of dollars U.S. tech firms have been channeling into AI infrastructure due to slow payoffs and breakthroughs at Chinese startup DeepSeek,

Microsoft has axed some of its leases on data centers as DeepSeek’s rapid rise casts doubt over massive US spending on artificial intelligence, according to a report. The Washington-based software giant has canceled leases in the US totaling “a couple of hundred megawatts,