IREN Ltd. shares fell 2.5% in overnight trading after an 11.4% drop in the regular session, drawing attention from retail traders as cloud and AI stocks came under pressure after Democrats won the midterm elections. The Australian data center company also faced scrutiny after a report said it contributed to Microsoft’s lower AI capital spending last quarter. The Information reported, citing unnamed sources, that IREN faced delays at the Childress, Texas data center site, leading Microsoft to delay spending it had slated for the September quarter. Microsoft spent about $5 billion less on capital expenditures than planned last quarter because data center capacity it expected to rent wasn’t ready on time, with Microsoft CFO Amy Hood saying capital expenditures were $45.2 billion as some third-party capacity deliveries expected in Q1 were delayed. Microsoft had agreed to spend $9.7 billion over five years renting Nvidia-powered servers at Iren’s Childress, Texas, data center. IREN is scheduled to report its fiscal first-quarter results after the markets close on Thursday, with analysts expecting sales to fall 9% to $221.7 million and adjusted loss of $0.67 per share.