[Satellite Images Show Potential Delays in Microsoft AI Data Center Projects with IREN and Nebius] According to Business Insider, satellite image analysis by research firm Aterio shows that IREN's Horizon 4 data center in Texas, part of a roughly $9.7 billion deal with Microsoft, still lacks backup generators and cooling equipment, posing a risk of not being delivered by the end of the year. The approximately 140 gigawatts of planned capacity for the Nebius New Jersey project may be delayed until 2027. Microsoft's AI-related capital expenditures last quarter were about $5 billion lower than expected, and the company lowered its full-year guidance. The CFO previously cited delivery delays from third-party cloud service providers as one of the main reasons. A Microsoft spokesperson stated that its infrastructure strategy remains flexible. IREN and DataOne declined to comment.