BREAKFAST NEWS : POWER IS AI NEW GOLD RUSH

What happened: Microsoft canceled a lease on a U.K. AI data center because the building cannot get power until the 2030s. The landlord, Nscale, is seeking an October IPO. U.S. stocks fell last week, and a busy earnings week follows. Key numbers: Nscale seeks about $3 billion at a valuation up to $35 billion. Why it matters: The canceled deal highlights a risk for AI IPOs that sell on backlog, and power, grids, and cooling are described as the biggest bottlenecks for hyperscalers. Sticky core prices make a second Fed hike likelier, which the content says pricey growth stocks would feel first.

Microsoft canceled a lease on a U.K. AI data center because the building cannot get power until the 2030s. The landlord, Nscale, is seeking an October IPO. U.S. stocks fell last week, and a busy earnings week follows.

The canceled deal highlights a risk for AI IPOs that sell on backlog, and power, grids, and cooling are described as the biggest bottlenecks for hyperscalers. Sticky core prices make a second Fed hike likelier, which the content says pricey growth stocks would feel first.