After a schedule change last week, IREN’s Texas data center may take weeks or months longer to reach completion; separately, Microsoft is reviewing projects involving three providers.
The review spans data center projects linked to IREN, Nebius and Nscale. Microsoft is dropping some developments it considers risky and internally weighing whether to sign new cloud service agreements.
Wiring at the unfinished Texas site has raised concern. A Microsoft spokesperson said large infrastructure plans are adjusted as circumstances evolve. IREN did not provide a comment.
IREN and Nebius each shed roughly 20% in Thursday's trading. IREN's move from cryptocurrency mining into artificial intelligence began in 2023.
In a separate development, CNBC reported that a networking-equipment upgrade for some IREN capacity moved its expected service start to January or February. IREN's release did not identify Microsoft as the customer for that capacity. That earlier capacity story is covered in EconoTimes' report on Microsoft's capital spending and delayed capacity deliveries.
