Microsoft pledges €4 billion for French AI infrastructure.France aims to attract global tech firms for AI development.
Technology giant Microsoft Corp MSFT reportedly intends to invest €4 billion ($4.3 billion) in constructing cloud and AI infrastructure in France, marking its latest significant expenditure in artificial intelligence technology.
Microsoft aims to train a million individuals and support 2,500 startups by 2027 in France, according to a report from Bloomberg.
France prioritizes AI development, with support from national funds and local billionaires, particularly backing companies like Mistral and Kyutai, both established in 2023.
Also Read: French AI Startup, Founded By Former Google And Meta Researchers, Is Up To Challenge Silicon Valley Dominance: Report
Microsoft’s commitment aligns with President Emmanuel Macron’s “Choose France” summit objective to attract foreign investment and elevate France as a financial center within the EU.
Meanwhile Amazon.com Inc AMZN has pledged €1.2 billion for infrastructure and computing projects, joined by 56 other initiatives.
Microsoft plans to expand its cloud and AI investments worldwide, including a recently announced €3.2 billion investment in Germany and a $1.5 billion investment in G42, Abu Dhabi.
Read Next: Microsoft Challenges Apple And Google with Web-Based Gaming Store: Report
Microsoft stock has gained about 34% in the past 12 months. Investors can gain exposure to the stock via Technology Select Sector SPDR Fund XLK and IShares U.S. Technology ETF IYW.
Price Action: MSFT shares are trading higher by 1.03% at $419.00 in premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
Market News and Data brought to you by Benzinga APIs
