Deal Structuring And Reported EarningsConducting large leases through joint ventures or private equity structures can reduce the company's reported contribution from those deals, weakening visible earnings.
Development Speed And Competitive PositioningVery large AI projects prioritize the fastest time to market, and the company's lengthy development schedule may cause loss of high-margin AI deals to faster competitors.
Large-deal VolumeBookings for larger leases were somewhat soft, which could constrain revenue growth that depends on high-value contract wins.