Microsoft has begun to scale back on data center spending, according to an analysts’ note, but Wall Street was divided on whether this suggests a change to the company’s artificial-intelligence strategy.

In response, Microsoft told BI it "may strategically pace or adjust our infrastructure in some areas" and will "continue to grow strongly."

Microsoft's cancellation of a handful of U.S.-based AI datacenter leases last week has some analysts concerned about the future of generative AI.