"An estimated $156 billion of data center projects were cancelled or delayed in 2025, and $130 billion in 1Q26. Community pushback against data center construction has accelerated in 2026 as new moratoriums have been introduced, with the majority of the change happening at the local level. This puts pressure on costs and timelines and could alter the geographic distribution of data centers. Sustained data center pushback could ultimately extend the cycle and reduce future supply by lowering capex and financing needs" - Morgan Stanley(zerohedge)