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Microsoft has reportedly canceled multiple U.S. data center leases and pulled back from other pending leases. The voided deals have raised concerns that Microsoft has more data center capacity than it needs and sparked new doubts about bullish data center demand forecasts. 

The Washington-based tech giant terminated leases totaling close to 200 megawatts in multiple U.S. markets with at least two data center providers, TD Cowen reported Friday in a note to investors.