High-profile hedge fund manager Jim Chanos has warned of dangers that an investment boom in data centres could result in far too much capacity, casting doubt on the record prices assets in the sector have attracted.

Mr Chanos founded Kynikos Associates, once the largest short-only money manager in the United States, and is best known for his bet against utility giant Enron before its collapse in 2001. He was also a critic of WorldCom, the second-largest telecommunications utility in the US before its collapse.