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Microsoft has tightened oversight of neocloud data center projects with partner IREN (NasdaqGS:IREN) after recent delivery issues. The tech giant has declined contract extensions on certain neocloud builds, citing project delays and higher than expected costs. IREN is reported to have faced operational setbacks at its Texas facility, including an incident that disrupted local data center activity. Microsoft's decision to refuse neocloud extensions and the Texas site incident is only one piece of the wider IREN story. We have also spotted 2 other big wins worth knowing about at IREN. This tightening from Microsoft shows IREN is not the only listed player exposed to AI data center build risk and opportunity.
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