Microsoft to Invest €4 Billion in French Cloud and AI Services
Microsoft’s second significant deal in the EU comes after recent investments in Germany, UAE’s G42
The announcement is part of France’s ‘Choose France’ Summit
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@Microsoft plans to spend €4 billion building cloud and AI infrastructure in France, announcing its latest major outlay on artificial intelligence technology, via Bloomberg#microsoft #france #cloud #Ai https://t.co/XJ2KbYdlbS
— The_Journalbiz (@the_journalbiz) May 13, 2024
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Microsoft Corp. plans to spend €4 billion ($4.3 billion) building cloud and AI infrastructure in France, announcing its latest major outlay on artificial intelligence technology.
The US firm aims to help train a million people and support 2,500 startups by 2027 in the European country, it said in a statement. Earlier this year, Microsoft unveiled a partnership and €15 million investment into Mistral AI, a Parisian startup competing with OpenAI.
France has made developing AI a key area of focus, with national funds and local billionaires backing Mistral and Kyutai, an AI research nonprofit, which both formed last year. Microsoft’s announcement is part of President Emmanuel Macron’s “Choose France” summit, which aims to attract foreign companies and make France a financial hub for the European Union.
Microsoft, meanwhile, is making splashy investments across the globe as the company accelerates spending on its Azure cloud and related AI tools. In February, Microsoft announced a similar €3.2 billion investment into Germany. In April, the company invested $1.5 billion into the Abu Dhabi AI firm G42.
