TD Cowen did not say which projects Microsoft had abandoned.Get daily updates on the Packers during the season. In a statement, Microsoft said the moves will not affect the $3.3 billion data center now under construction in Mount Pleasant.

Microsoft has abandoned data center projects set to use 2 gigawatts of electricity in the U.S. and Europe in the last six months due to an oversupply relative to its current demand forecast, TD Cowen analysts said on Wednesday.

Shares in tech giant Microsoft (MSFT) were lower today on reports that it has scrapped data center projects in the U.S. and Europe in the last