InvestorsHub Logo
Followers 85
Posts 32456
Boards Moderated 86
Alias Born 03/22/2005

Re: gfp927z post# 24

Wednesday, 02/21/2024 8:31:17 PM

Wednesday, February 21, 2024 8:31:17 PM

Post# of 29
>>> Microsoft investing billions in Spain for AI, cloud in latest EU spending spree


TechRadar

by Craig Hale


https://www.msn.com/en-us/money/companies/microsoft-investing-billions-in-spain-for-ai-cloud-in-latest-eu-spending-spree/ar-BB1izmG6?OCID=ansmsnnews11


Microsoft has confirmed plans to bolster its artificial intelligence and cloud infrastructure in Spain with a substantial $2.1 billion investment over the next two years.

The news came as Spanish Prime Minister Pedro Sánchez took to X to announce Microsoft’s decision to quadruple its investment in the country.

The investment follows closely on the heels of other commitments by the company, such as its $3.45 billion investment in Germany, emphasizing Redmond’s plans to expand AI and cloud services across Europe.

Microsoft continues to invest in European AI

In December, Microsoft revealed a similar $3.2 billion spend in the UK, aimed at expanding its AI datacenter infrastructure, increasing skills, and improving security.

Spain’s Sánchez commented on X: “I want to thank [Microsoft’s] president, Brad Smith, for his trust in the Spanish economy and in our roadmap for an inclusive and secure digital transformation.”
He added that the investment would help the country strengthen cybersecurity and promote artificial intelligence in public administration.

Microsoft Vice Chair and President Braad Smith commented: “Our investment is beyond just building data centers, it’s a testament to our 37-year commitment to Spain, its security, and development and digital transformation of its government, businesses, and people.”

Specific details about the company’s investment in Spain are yet to be confirmed, but it’s reasonable to suspect it will be on similar grounds to other cash injections announced by Microsoft in recent months.

Besides giving the country’s business sector access to better technologies, with the hope of boosting its economy, Microsoft also looks to be increasing its presence across Europe, an area that it’s previously had plenty of trouble with in relation to antitrust allegations, including its own cloud platform.

<<<



---

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.