Microsoft's €4B French AI Push: Tech Expansion Reportedly Intensifies

Benzinga · 05/13 10:34

Technology giant Microsoft Corp (NASDAQ: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.

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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 Inc (NASDAQ: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.

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Microsoft stock has gained about 34% in the past 12 months. Investors can gain exposure to the stock via Technology Select Sector SPDR Fund (NYSE:XLK) and IShares U.S. Technology ETF (NYSE: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.

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