Microsoft Announces $1.3 Billion Investment in AI and Cloud Infrastructure in Mexico
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Microsoft Invests $1.3B to Boost AI Skills and Infrastructure in Mexico - Microsoft (NASDAQ:MSFT)
Microsoft's new AI investment aims to train 5 million people over three years. Microsoft Corp MSFT Chair and Chief Satya Nadella reaffirmed the company's commitment to Mexico during his keynote at the Microsoft AI Tour 2024. Nadella announced a fresh investment of $1.3 billion over the next three years to drive AI infrastructure and initiatives aimed at digital marketing and AI skills. This initiative seeks to democratize access to AI skills and reach 5 million people. Also Read: Salesforce's Free Cash Flow Could Double by 2029 Amid AI Push, Analyst Says While Upgrading Stock The investment will also work on improving connectivity and encouraging AI adoption by small and medium-sized businesses. Recently, DA Davidson analyst Gil Luria downgraded the rating on Microsoft to Neutral from Buy as it lost its premium valuation to the AI competition. Microsoft's lead is now diminished in both the cloud and code generation businesses versus Amazon.Com Inc AMZN Amazon Web Service, and Alphabet Inc GOOG GOOGL Google Cloud. The AI ambitions of hyperscalers, including Microsoft, Amazon, Alphabet, and Meta Platforms Inc META, have been instrumental in driving the AI frenzy, leading to higher demand for Nvidia Corp NVDA AI chips. Microsoft stock is up over 35% in the last 12 months. Investors can gain exposure to Microsoft through SPDR S&P 500 SPY and iShares Core S&P 500 ETF IVV. Price Action: MSFT stock is trading higher by 0.08% to $429.52 premarket at the last check on Wednesday. Also Read: ANSYS, Taiwan Semiconductor, Microsoft Team Up To Supercharge Next-Gen Chip Simulations Market News and Data brought to you by Benzinga APIs
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Microsoft to Invest $1.3 Billion in AI in Mexico
Microsoft plans to invest in Mexico over the next three years to expand its cloud and artificial intelligence infrastructure and promote AI skills, the company said on Tuesday. "We're doubling down on bringing more capacity to Mexico by investing an additional $1.3 billion," Microsoft Chairman and Chief Executive Satya Nadella said at an event in Mexico City. "So whenever we think about any region bringing these data centers, these AI Azure regions to a market, is what allows us to bring about a deep transformation in the local ecosystem's ability to take advantage of this new commodity." The investment seeks to improve connectivity and encourage AI adoption by small- and medium-sized businesses, and to reach five million people under the Artificial Intelligence National Skills Initiative, Microsoft said in a release. Write to Anthony Harrup at [email protected]
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Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft will invest $1.7 billion to build out cloud computing and artificial intelligence infrastructure in Indonesia, betting on Southeast Asia's biggest economy to spur growth. Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. "We're doubling down on bringing more capacity to Mexico," Chairman and CEO Satya Nadella said at an event in Mexico City. The investment will go toward improving connectivity and boosting the adoption of AI technology by small and medium-sized businesses (SMBs), the firm said in a statement. The initiative aims to reach 5 million Mexicans and 30,000 SMBs in three years, according to the statement. Already, Mexican firms such as breadmaker Bimbo and cement producer Cemex use Microsoft's AI tools. Microsoft and communications company Viasat are also working to bring the internet to more than 150,000 Mexicans previously without cellular connectivity by the end of 2025, Microsoft said. "This is great news for our country," incoming Economy Minister Marcelo Ebrard said in a post on X after meeting with Nadella, adding that the planned investment will help Mexico quickly boost its AI capabilities.
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Microsoft to spend $1.3 bln in Mexico on cloud, AI tech
MEXICO CITY, Sept 24 (Reuters) - Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. Reporting by Diego Ore Our Standards: The Thomson Reuters Trust Principles., opens new tab
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Microsoft to Spend $1.3 Billion in Mexico on Data Centers, AI
Microsoft will spend $1.3 billion in Mexico over the next three years on data centers to support demand for artificial intelligence, as well as AI-related training programs in the country, CEO Satya Nadella said on Tuesday during an event in Mexico City. The announcement follows Microsoft's disclosure of similar multibillion-dollar plans for new data centers across the U.S., U.K., Europe, Asia
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Microsoft plans to invest $1.3 billion in Mexico over the next four years to expand AI capabilities and cloud infrastructure. The investment aims to boost digital skills, create jobs, and support Mexico's growing tech ecosystem.
Microsoft's Ambitious Investment in Mexico
Microsoft has announced a significant investment of $1.3 billion in Mexico, focusing on artificial intelligence (AI) and cloud computing infrastructure. The investment, planned over the next four years, marks a major commitment to expanding the tech giant's presence in the country and supporting its digital transformation 1.
Expanding Cloud and AI Infrastructure
A substantial portion of the investment will be directed towards building new data centers and expanding Microsoft's cloud computing capabilities in Mexico. These facilities will be crucial in supporting the growing demand for cloud services and AI technologies in the region 2.
Boosting Digital Skills and Job Creation
Microsoft's investment plan includes a strong focus on enhancing digital skills among the Mexican workforce. The company aims to train over 3 million people in AI-related skills, contributing to job creation and economic growth in the country's tech sector 3.
Collaboration with the Mexican Government
The investment announcement was made during a meeting between Microsoft CEO Satya Nadella and Mexican President Andres Manuel Lopez Obrador. This collaboration highlights the importance of public-private partnerships in driving technological advancements and economic development 4.
Strategic Importance for Microsoft
Mexico represents a key market for Microsoft in Latin America. The investment is part of the company's broader strategy to expand its global cloud infrastructure and capitalize on the growing demand for AI technologies. It also aligns with Microsoft's efforts to compete with other tech giants in the region 5.
Impact on Mexico's Tech Ecosystem
The substantial investment is expected to have a significant impact on Mexico's technology sector. By bringing advanced AI and cloud capabilities to the country, Microsoft aims to foster innovation, support local businesses, and attract further investments in the tech industry 1.
Environmental Considerations
As part of its commitment to sustainability, Microsoft has stated that the new data centers in Mexico will be designed with a focus on water conservation. This approach aligns with the company's global initiatives to reduce its environmental impact while expanding its technological footprint 3.
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