Capex Reset

25%its chance, of the story’s futures

−0.3%on the S&P 500, if it happens

Microsoft responds to backlog pressure by slowing the pace of incremental AI infrastructure commitments. The company preserves strategic AI capacity but becomes more selective on leases, GPUs and third-party data-center contracts.

What it moves

Technology−0.4%
Industrials−0.3%
Utilities−0.2%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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