Microsoft has canceled a lease on an AI data center in the U.K. because the building cannot get power until the 2030s, according to The Telegraph. The landlord, Nscale, a young British AI data center builder, is looking to raise around $3 billion in an October IPO at a valuation of up to $35 billion, and the article notes that buying AI IPOs that sell on backlog means paying today for sales that don't yet exist. Last week the S&P 500 fell 1.95% and the Nasdaq fell 4.48%, after September CPI showed inflation at 3.7%, above the 3.6% expected, and the Fed raised its target range to 3.75%-4% on Sept. 16. Team Hidden Gems sees Cisco reaching $231.15 within five years from about $109 today, after the stock has climbed about 130% since its September 2024 recommendation at about $47.
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Original headline: Breakfast News : Power Is AI New Gold Rush
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