Microsoft (NASDAQ: MSFT) has strengthened its grip on Spain’s tech ecosystem with a new $2.1 billion investment commitment to expand the country’s cloud and artificial intelligence (AI) infrastructure.
Microsoft President Brad Smith said in a post on
We are excited to announce that we plan to expand our AI and cloud infrastructure in Spain by USD 2.1 billion over the next two years. Our investment is more than just building a data center, it is a testament to our 37 years of commitment to security, development and digital in Spain… https://t.co/arJnZzyDpc
— Brad Smith (@BradSmi) February 19, 2024
Microsoft plans to roll out the funding in installments over two years, with a focus on building new data centers to power its AI ambitions. A significant portion of Microsoft’s investment will be used to build generative AI products for government agencies and the private sector.
The company said it would establish a data center in Madrid, a region that has seen significant technology investments from other global companies. Similar data centers are expected to be established in Aragon to provide cloud services to both public and private entities.
“We are very excited to announce that we will be expanding our AI and cloud infrastructure in Spain by $2.1 billion over the next two years,” said Smith. “Our investment is more than just building a data center. It is a testament to our 37-year commitment to the development and digital transformation of Spain, its security, government, businesses and people.”
Rather than simply splashing out money, Microsoft has confirmed that its investment will go towards strengthening the framework for responsible artificial intelligence to ensure safe use. The country aims to increase the use of AI in key sectors of the economy, strengthen national cybersecurity, and improve the cyber resilience of private enterprises.
Spanish President Pedro Sánchez described Microsoft’s investment as “confidence in the Spanish economy and our roadmap for inclusive and secure digital transformation.”
Microsoft announced plans to allocate some of its funds for large-scale human capital development, with a focus on regulatory and infrastructure aspects. The tech giant noted that its investments in data centers will create 69,000 new jobs by the end of 2030.
A series of partnerships under his belt.
Microsoft has secured a series of high-profile partnerships in recent months. In late 2023, the company pledged significant sums to expand its AI data centers in Australia and the UK, signing a multi-year deal with KPMG to focus on generative AI and other emerging technologies.
Microsoft’s recent AI investments are an attempt to maintain market share by fending off competition from Google (NASDAQ: GOOGL), Meta (NASDAQ: META), and Anthropic. The company’s fortunes have grown to make it the largest company by market capitalization, ahead of Apple (NASDAQ: AAPL), Saudi Aramco and Alphabet by $2.9 trillion.
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