Microsoft has begun to scale back on data- center spending, according to an analysts’ note, but Wall Street is divided on whether this suggests a change to the company’s artificial-intelligence strategy.

An analyst note flagging a possible slowdown by Microsoft in leasing for data center capacity grabbed the market's attention on Monday, lending credence to skepticism among investors worried that the AI-led stock-market boom might be overdone.

(Reuters) - Microsoft has scrapped leases for sizeable data center capacity in the U.S., suggesting a potential oversupply at the tech giant as it builds out artificial intelligence infrastructure to meet a potential demand surge, TD Cowen analysts said.