The chief executive of data centre operator NextDC has hosed down suggestions that the sector is in for a correction from building too much capacity, as reports emerge that Microsoft is pulling out of projects and analysts question companies’ returns on artificial intelligence investments.

NextDC chief executive Craig Scroggie told The Australian Financial Review his company has a more diversified customer base than some of its rivals, which just serve huge global cloud computing vendors like Microsoft – known in the industry as hyperscalers – and is seeing no changes to its customer contracts.