Microsoft cuts $5 billion in capital spending, AMD raises revenue forecast.

Microsoft reduced its capital expenditures by approximately $5 billion in the third quarter compared to its original plan due to delays in the delivery of third-party data centers. Specifically, delays in the Iren data center project in Childress, Texas, led to the postponement of spending; Microsoft had previously planned to invest $9.7 billion over five years to lease servers equipped with Nvidia GPUs from Iren. Additionally, Microsoft withdrew from a project to lease a UK data center from Nscale due to grid connection delays. Advanced Micro Devices (AMD) raised its earnings guidance, reporting first-quarter revenue of $19.95 billion, exceeding analysts' expectations of $16.39 billion. AMD projects second-quarter revenue of $19.5 billion to $21.5 billion and raised its fiscal 2027 revenue guidance from $65 billion to $72 billion to $72 billion to $82 billion. (Source: The Information)