Category Archives: Cloud Computing
The 3 Best Cloud Computing Stocks to Buy in February 2024 – InvestorPlace
These cloud computing stocks can march higher in 2024
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Cloud computing has helped corporations increase productivity and reduce costs. Once a business uses cloud computing, it continues to pay annual fees to keep its digital infrastructure.
Cloud solutions can quickly turn into a companys backbone. Its one of the last costs some companies will think of removing. Firms that operate in the cloud computing industry often benefit from high renewal rates, recurring revenue and the ability to raise prices in the future. Investors can capitalize on the trend with these cloud computing stocks.
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Amazon (NASDAQ:AMZN) had a record-breaking Black Friday and optimized its logistics to offer the fastest delivery speeds ever for Amazon Prime members. Over seven billion products arrived at peoples doors on the same or the next day or the order. Its a testament to Amazons vast same-day delivery network that encompasses 110 U.S. metro areas and more than 55 dedicated same-day sites across the United States.
The delivery network makes Amazon Prime more enticing for current members and people on the fence. The companys efforts paid off and resulted in 14% year-over-year (YoY) revenue growth in the fourth quarter of 2023.
Amazons ventures into artificial intelligence (AI) can also lead to meaningful stock appreciation. The companys generative AI investments have paid off and strengthened Amazon Web Services value proposition. Developers can easilyscale AI appswith Amazons Bedrock. These resources can help corporations increase productivity and generate more sales.
Innovations like these will help Amazon generate more traction for its e-commerce and cloud computing segments. The AI sector has many tailwinds that can help Amazon stock march higher for long-term investors.
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Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is a staple in many funds. The equity has outperformed the broader market with a 58% gain over the past year. Shares are up by 170% over the past five years.
Shares trade at a reasonable 22x forward P/E ratio. The stock initially lost some value after earnings but has parried some of its losses. The earnings report wasnt too bad, with 13% YoY revenue growth and 52% YoY net income growth.
Investors may have wanted higher numbers since Meta Platforms (NASDAQ:META) reported better results. However, a 7% drop in earnings didnt make much sense. The business model is still robust and is accelerating revenue and earnings growth. Alphabet also has a lengthy history of rewarding long-term investors.
Many analysts believe the equity looks like a solid long-term buy. The average price target implies a 9% upside. The highest price target of $175 per share suggests the equity can rally 16.5% from current levels.
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ServiceNow (NYSE:NOW) is an information technology company with an advanced cloud platform that helps corporations increase their productivity and sales. The equity has comfortably outperformed the market with 1-year and 5-year gains of 77% and 248%, respectively.
The company currently trades at a 61x forward P/E ratio, meaning youll need a long-term outlook to justify the valuation. ServiceNow certainly delivers on the financial front, increasing revenue by 26% YoY in Q4 2023. ServiceNow also reported $295 million in GAAP net income, a 97% YoY improvement. The company generated $150 million in GAAP net income during the same period last year.
Revenue is going up, and profit margins are accelerating. These are two promising signs for a company that boasts a 99% renewal rate for its core product. The companys subscription revenue continues to grow at a fast clip and generates predictable annual recurring revenue.
On this date of publication, Marc Guberti held a long position in NOW. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News & World Report, Benzinga, and Joy Wallet.
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The 3 Best Cloud Computing Stocks to Buy in February 2024 - InvestorPlace
Microsoft to invest 3.2bn in doubling AI infrastructure and cloud capacity in Germany – DatacenterDynamics
Microsoft has committed to investing 3.2 billion ($3.44bn) to double its AI infrastructure and cloud computing capacity in Germany.
The investment will span the next two years and focus on the expansion of Microsoft's cloud region in Frankfurt and newly planned infrastructure in North Rhine-Westphalia.
In total, this will double capacity in the country. Specific details about the development in North Rhine-Westphalia - a region of northwest Germany encompassing Cologne, Dortmund, Essen, and Dsseldorf - have not been shared.
We want to enable the German economy to benefit from AI in order to continue to expand its global leadership position in competitiveness, said Brad Smith, vice chair and president of Microsoft.
He continued: We see increasing demand for AI applications in key economic sectors such as manufacturing, automotive, financial services, pharmaceuticals, life sciences, and medical technology. Because these industries are fundamentally changing due to economic change, it is important to equip companies in Germany with world-leading technology.
The company said the investment will increase the availability of Microsoft's cloud computing and AI services to small start-ups and large corporations, including their ability to develop and apply AI models.
The data centers will reportedly be 100 percent powered by renewable energy.
Microsoft announced plans to launch cloud regions in Germany in 2018, with the Germany West Central Azure region becoming widely available in early 2021. The cloud region, when announced, was hosted in three separate data centers. The company also has the Germany North Azure region, though this is listed as "not supported," and is paired with the West Central region.
Chancellor Olaf Scholz said: Microsoft's billion-dollar investment in Germany announced today is very good news for Germany as a business location. Microsoft is thus promoting the necessary structural change in the Rhineland region, advancing the computing infrastructure in our country, and strengthening the German ecosystem around artificial intelligence. Such projects show how attractive the location and the trust of investors in Germany is.
In addition to expanding infrastructure in the country, Microsoft will teach digital skills to more than 1.2 million people in Germany by the end of 2025. Those training programs will focus on AI skills, and will include the first professional certificate for generative AI.
For this training, Microsoft is partnering with other organizations including the Federal Association of German Employers' Associations, Schaeffler, the DHL Group, and the ReDI School of Digital Integration.
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Microsoft to invest 3.2bn in doubling AI infrastructure and cloud capacity in Germany - DatacenterDynamics
Yubi chooses Oracle Cloud Infrastructure to run its co-lending platform – IBS Intelligence
By Gloria Mathias
Today
Yubi Group, Indias lending technology conglomerate, has leveraged Oracle Cloud Infrastructure (OCI) to run its co-lending platform across India.
With OCIs superior performance, enterprise security, high availability, low cost, and globally distributed cloud regions, Yubi can bridge the credit gap in India and facilitate scalability in the co-lending sector.
Yubi has partnered with 80% of Indian banks and over 150 NBFCs. With the co-lending sector in India set to hit more than $12 billion this year, Yubi needed to further enhance its co-lending platform with greater flexibility, scalability, security, and high-performance computing resources to handle increased disbursement volumes and capitalise on the rapidly growing market opportunity.
At Yubi, our mission is to enable prudent access to credit for Indian businesses with the help of our esteemed lending partners and fintechs, thereby accelerating financial inclusion in India, said Gaurav Kumar, Founder and CEO of Yubi Group of Companies. Transitioning to OCI marks a significant milestone, facilitating seamless scalability, enhanced performance, and the establishment of a multi-cloud environment to better serve our customers across India, anytime and anywhere. We opted for OCI due to its dual-region cloud strategy, anticipating over 25% cost savings from this migration. This move fortifies our stance to empower Indian entrepreneurs in funding their aspirations and bringing their innovations to life, he added.
Yubi will deploy OCI services such as Compute Virtual Machines (VMs), Object Storage, and OCI Database with PostgreSQL to gain flexible compute capacity for its large-scale and small development projects. Yubi will also benefit from high-performance computing and low-cost cloud storage options to improve the efficiency and productivity of its IT team. The migration to OCI will help Yubi combine open-source technology with OCI to significantly improve performance and lower costs.
Shailender Kumar, senior vice president and regional managing director, Oracle India and NetSuite JAPAC said, With OCI, Yubi will be able to improve the performance of its co-lending platform, gain greater control of the budget, reduce underused resources, and forecast spending more accurately. OCI will also help Yubi combine cloud services from multiple clouds to optimise cost, functionality, and performance.
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Yubi chooses Oracle Cloud Infrastructure to run its co-lending platform - IBS Intelligence
Zurich Insurance Group’s Journey with Scalable Account Vending and AWS Account Factory for Terraform – InfoQ.com
AWS recently highlighted Zurich Insurance Group's use of AWS Account Factory for Terraform, which enabled them to attain the desired performance parameters needed to facilitate the provisioning of more than 3000 accounts. Zurich Insurance Group streamlined its Cloud Adoption Strategy by using the Scalable Account Vending solution, automating the process of setting up new AWS environments easily.
In a blog post,Raffaele Garofalo, senior solutions architect, andJohn Duckmanton, senior cloud infrastructure architect at AWS, provided anoverview of the migration journey. In 2022, Zurich launched a multi-year initiative aimed at fast-tracking its digital transformation and innovation by moving 1,000 workloads, including essential insurance and SAP tasks to AWS.
The initiative further aimed to standardize reusable Terraform-prebuilt patterns and services, simplifying migration and enhancing reusability. Zurich's shift to self-service DevSecOps for infrastructure meant setting up DevSecOps environments in Azure DevOps and Terraform Cloud for workloads lacking them, thereby accelerating adoption. The Scalable Account Vending (SAV) solution made it easier and faster to set up AWS accounts using AWS Account Factory for Terraform. It also ensured a uniform process across different business units, reducing the effort needed for support and allowing everyone to use the best methods.
Submitting a single Jira Service Management request by the workload owner initiated the provisioning of the complete cloud workload environment, equipping it with all essential resources needed for migrating a workload to AWS. This comprehensive solution was deployed as infrastructure-as-code, managed through Zurich Insurance Groups standard Azure DevOps CI/CD pipeline.
Source: How Zurich Insurance Group built their Scalable Account Vending process using AWS Account Factory for Terraform
The AWS Control Tower Account Factory for Terraform (AFT) operates by creating a new AWS account whenever a Terraform configuration request is submitted to its account request GIT repository. Each configuration request includes all necessary details and metadata to accurately categorize the AWS account within the appropriate organizational structure and assign it to the correct cost center.
The AWS Control Tower Account Factory for Terraform (AFT) adopts a GitOps methodology for the provisioning and initial setup of new AWS accounts with Terraform. It has processes for account creation and resource deployment in these accounts, utilizing global and account-specific customizations via Terraform modules. The modifications to these modules carry the risk of introducing errors that may affect accounts provisioned this way.
To minimize the above risk, Zurich Insurance Group adopted GitFlow. It involved a procedure of pull requests, reviews, and merges for modifying production configurations to prevent disruptive changes. Any changes undergo testing in lower-level environments before being rolled out to production.
We saw an engagingdiscussion on Reddit, where the tech community shared their insights and opinions on using the Account Factory for Terraform with AWS. One comment discussed themerits and potential challenges of undertaking the migration to AFT. Another discussion focused onunderstanding AFT's main goal, managing multiple accounts efficiently.
Streamlining into a single ITSM request, Zurich Insurance Group CCOE enhanced SLA and customer satisfaction, cut support time and effort, and fortified their AWS security through automated DevSecOps.Based in Zurich, Switzerland, the company specializes in life and P&C insurance.
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Zurich Insurance Group's Journey with Scalable Account Vending and AWS Account Factory for Terraform - InfoQ.com
Get Rich Quick With These 3 Cloud Computing Stocks to Buy Now – InvestorPlace
As part of our day-to-day life, cloud computing companies are completely necessary as they keep us interconnected and take care of streamlining our operations, allowing us to be more efficient and effective. They also make many tasks much easier to perform through their great technological solutions. These solutions can be applied from the financial area to the human resources area.
If you want to take advantage of the great boom and the strong demand of these companies, here are three cloud computing stocks to buy quick and that you can consider adding to your portfolio.
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Behind pharmaceutical companies and biotech companies there is a big figure that is responsible for providing them with cloud-based software solutions to streamline their entire operations, that big figure is Veeva Systems Inc (NYSE:VEEV).
Financially VEEV is completely stable and are always on the move. Its revenues speak for themselves as they are on the rise and if we focus on net income, it is growing consistently reflected in their market performance.
One of the particularities that distinguishes this company is its capacity for innovation.
For example, their most recent release, the Veeva Compass Suite, is a comprehensive set of tools that gives healthcare companies a much deeper understanding of existing patient populations and a picture of healthcare provider behaviors.
Its practically like giving you a complete and specific picture of the entire healthcare network landscape.
On top of that, they make a real impact on the lives of patients, as their training solutions are helping many companies modernize their employee qualification processes.
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Next on the list of companies involved in the cloud computing sector is Workday Inc (NASDAQ:WDAY), which specializes in providing companies with cloud-based enterprise applications for financial management and human resources.
They provide practical software-based solutions that allow companies to streamline their processes in managing their financial operations and human talent.
One of the things that makes this company completely attractive is its great financial performance, since in their last financial quarter they indicated that their revenues increased by 16.7% compared to the same period of the previous year, which can be translated into $1.87 billion, what good figures.
As part of their most important metrics we have subscription revenues, which increased much stronger than their normal revenues, with 18.1%, reaching approximately $1.69 billion.
In addition to these incredible numbers, they are making important strategic alliances, where they have partnered with McLaren Racing to provide them with innovative solutions.
This partnership demonstrates the versatility of Workday, as they not only provide business solutions in traditional sectors, but they also have a large participation in completely competitive industries.
Source: Jonathan Weiss / Shutterstock.com
And to close the list of these companies completely necessary in our day to day, we have the giant Oracle Corporation (NYSE:ORCL), a technology company completely recognized worldwide.
This company specializes entirely in data management solutions and of course in cloud computing. One of its main commitments is to help organizations improve their efficiency and optimize their operations through completely innovative technological solutions.
Financially, this company is in a phase of solid growth specifically in its total revenue and in its cloud division.
One of the stars of this company is its cloud application suite, which has gained a strong foothold in the healthcare sector.
Large and important institutions such as Baptist Health Care and the University of Chicago Medicine, are adopting the solutions provided by this company to improve their experience with employees and of course the care of their patients.
In addition, they are expanding their global presence with the grand opening of a new cloud region in Nairobi, Kenya. This major expansion makes clear their important commitment to economic and technological development in the greater African continent.
Oracle Cloud Infrastructures (OCI) unique infrastructure allows them the great opportunity and advantage to offer governments and businesses the opportunity to drive innovation and growth in the region.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines(no position)
Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in bottom-up value investing and volatility-based long/short equities trading.
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Get Rich Quick With These 3 Cloud Computing Stocks to Buy Now - InvestorPlace
Nerdio Brings AI To Its Microsoft Cloud Management Suite – CRN
A community forum to foster knowledge sharing among partners is among the updates.
Nerdio, a vendor for Microsoft cloud technologies management software, has added artificial intelligence capabilities to its products and is investing in more partner resources after growing the base by 150 percent.
The Chicago-based vendor has introduced a community forum to foster knowledge sharing among partners and a new enterprise partner program aimed at increasing partner profitability, according to Nerdio. The company announced the updates during its 2024 NerdioCon event, which runs until Friday in Punta Cana, Dominican Republic.
In generative AI (GenAI), Nerdio plans to introduce generative AI assistants for scripted action generation, report creation, data analysis and other tasks to its products as well, according to the vendor.
[RELATED: Nerdio CRO: Eye On GenAI, More Security Capabilities And Training Camps Coming]
Nerdio is a member of CRNs 2024 Channel Chiefs.
The vendor also revealed that it has doubled its annual recurring revenue through partner expansion and customer growth.
Nerdios products aim to enable partner and customer use of Microsofts Azure Virtual Desktop (AVD) and Windows 365 offerings and leave legacy virtual desktop infrastructure (VDI) offerings such as Citrix.
Nerdio joins a slate of vendors exploring AI to improve products and increase customer spending, with recent announcements from the likes of Cisco, Dynatrace and D&H.
Michael Goldstein, CEO of Fort Lauderdale, Fla.-based Microsoft partner LAN Infotech, told CRN in an interview that Nerdio has helped his company simplify AVD use for customers.
He said that he looks forward to Nerdio developing more capabilities related to Microsoft Intune and Microsoft's security offerings.
"I see more ways they can work with Defender," Goldstein said.
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Nerdio Brings AI To Its Microsoft Cloud Management Suite - CRN
Leveraging Cloud Computing and Data Analytics for Businesses – Analytics Insight
In todays dynamic business landscape, organizations are constantly seeking innovative ways to drive efficiency, agility, and value. Among the transformative technologies reshaping business operations, cloud computing and data analytics stand out as powerful tools that, when leveraged effectively, can yield significant business value. By integrating these technologies strategically, businesses can unlock new opportunities for growth, streamline operations, and gain a competitive edge in the market.
Cloud computing offers organizations the flexibility to access computing resources on-demand, without the need for substantial investments in hardware and software infrastructure. This agility enables businesses to scale their operations rapidly in response to changing market demands, without the constraints of traditional IT environments. By migrating workloads to the cloud, organizations can streamline their operations, reduce downtime, and optimize resource utilization, leading to improved efficiency across the board.
In todays data-driven world, businesses are sitting on a goldmine of valuable information. Data analytics empowers organizations to extract actionable insights from vast volumes of data, enabling informed decision-making and driving business value. By leveraging advanced analytics techniques, such as machine learning and predictive modeling, businesses can identify trends, anticipate customer needs, and optimize processes for maximum efficiency. Furthermore, effective data governance and quality assurance practices ensure that insights derived from data analytics are accurate, reliable, and actionable.
Cloud FinOps, a practice focused on optimizing cloud spending and maximizing business value, plays a crucial role in ensuring that cloud investments deliver tangible returns. By tracking key performance indicators (KPIs) and measuring the business impact of cloud transformations, organizations can quantify the value derived from their cloud investments. Cloud FinOps goes beyond cost savings to encompass broader metrics such as improved resiliency, innovation, and operational efficiency, providing a comprehensive view of the business value generated by cloud initiatives.
Cloud computing infrastructure provides organizations with the foundation they need to harness the power of data analytics at scale. By leveraging cloud-based platforms for big data processing and analytics, organizations can access virtually unlimited computing resources, enabling them to analyze large datasets quickly and efficiently. Additionally, cloud infrastructure offers built-in features for data protection, disaster recovery, and security, ensuring that sensitive information remains safe and secure at all times. Furthermore, the pay-as-you-go pricing model of cloud services allows organizations to optimize costs and maximize ROI on their infrastructure investments.
Cloud computing accelerates the pace of software development by providing developers with access to scalable resources and flexible development environments. By leveraging cloud-based tools and platforms, organizations can streamline the software development lifecycle, reduce time-to-market, and improve collaboration among development teams. Furthermore, cloud-based development environments enable developers to experiment with new ideas and technologies without the constraints of traditional IT infrastructure, fostering innovation and driving business growth.
In conclusion, cloud computing and data analytics represent powerful tools for driving business value in todays digital economy. By embracing these technologies and implementing sound strategies for their deployment, organizations can unlock new opportunities for growth, enhance operational efficiency, and gain a competitive edge in the market. With the right approach, cloud computing and data analytics can serve as catalysts for innovation and transformation, enabling businesses to thrive in an increasingly data-driven world.
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Leveraging Cloud Computing and Data Analytics for Businesses - Analytics Insight
Microsoft invests 3.2 billion in AI and the cloud in Germany – CIO
While 2023 was still a year of trial and error in terms of generative AI, when everyone put together and tried out all kinds of ingredients, 2024 is the year in which German industrial giants such as Siemens, Mercedes-Benz, Bayer, and BASF will deeply integrate AI technologies into their own services. Ultimately, the German economy could create a unique selling point with the help of AI.
According to Janik, the International Monetary Funds AI Readiness Index also shows that the economy has nothing to hide when it comes to AI. It puts Germany in third place worldwide behind Singapore and the US. In addition, she said, the widespread use of AI offers Germany the opportunity to increase its gross national product by 0.6% per year.
However, this is not a sure-fire success, she warned. We need a strong digital infrastructure and the right skills. We really need to empower everyone in Germany to be able to use these AI technologies.
After doubling the capacity of its own data centers in Germany in 2023, Microsoft intends to double it again by the end of 2025. One focus will be on expanding the cloud region around Frankfurt am Main. In addition, new infrastructure is planned in the Rhenish mining district in North Rhine-Westphalia.
When building the new data centers, Microsoft is also paying attention to the sustainability aspect and investing in renewable energies.
We will generate more electricity from renewable energy sources than our data centers consume, Smith promised, noting that Microsoft is focusing on solar energy in Germany.
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Microsoft invests 3.2 billion in AI and the cloud in Germany - CIO
Admiral Selects Google Cloud to Accelerate Innovative Customer Experiences – PR Newswire
LONDON, Feb. 14, 2024 /PRNewswire/ -- Admiral, a leading financial services company in the UK and part of the Admiral Group, has selected Google Cloud as a strategic cloud partner. Under the terms of the agreement, Admiral's core insurance operations, including insurance policy administration and digital systems, will now be powered by Google Cloud. The company will also use Google Cloud technologies to develop new digital products and services, such as making further improvements to its customer-facing mobile app.
The collaboration will enable Admiral to accelerate time-to-market for new products and services by deploying containerised cloud applications and adopting new software development practices. Admiral will continue to improve operational efficiency using Google Cloud's data analytics capabilities, and better serve its customers with Google Cloud's AI and machine learning services.
The partnership with Google Cloud covers four core areas:
"With our customers at the heart of everything we do, Admiral is delighted to join forces with Google Cloud to help us achieve our strategic goals," said Admiral CIO Alan Patefield-Smith. "Google Cloud's cutting-edge tech and expertise allows us to accelerate our digital transformation journey and helps us to deliver forward-thinking customer experiences."
"Admiral is an innovative insurer that has delivered many firsts to the market. We are proud to support its continued commitment to giving its customers the very best products and services across its insurance portfolio," said Helen Kelisky, MD, Google Cloud, UKI. "We look forward to strengthening our existing relationship with Admiral to help it accelerate its change strategy and deliver even better experiences."
About Admiral
Admiral is a leading Financial Services company covering services such as motor, home, travel insurance, Insurtech and legal services. Admiral is part of Admiral Group, a FTSE100 Financial Services company with businesses in the UK, Europe and America. In the UK it has over 7,500 colleagues and over 6.4 million customers. In 2023, Admiral was named the 6th best workplace in the UK by Great Place to Work, as well as the 14th best workplace for Wellbeing, and the 3rd best workplace for Women. It was also named the Best Big Company To Work For in the UK in the Best Companies To Work For list. Follow Admiral on Facebook, Twitter and Instagram at @admirallife, and on LinkedIn at Admiral Group Plc.
About Google Cloud
Google Cloud accelerates every organization's ability to digitally transform its business and industry. We deliver enterprise-grade solutions that leverage Google's cutting-edge technology, and tools that help developers build more sustainably. Customers in more than 200 countries and territories turn to Google Cloud as their trusted partner to enable growth and solve their most critical business problems.
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Admiral Selects Google Cloud to Accelerate Innovative Customer Experiences - PR Newswire
German chancellor welcomes Microsoft’s $3.5 billion AI investment in Germany – Quartz
Federal Chancellor Olaf Scholz, right, and Vice Chair and President of Microsoft Corporation Brad Smith shake hands in Berlin, `Thursday, Feb. 15, 2024, after a press conference held by Microsoft Deutschland GmbH on the company's investments in the AI sector in Germany. Chancellor Olaf Scholz welcomed an announcement by Microsoft on Thursday that it would invest more than 3.2 billion euros ($3.4 billion) in Germany over the next two years to massively expand its data center capacities for applications in the field of artificial intelligence and cloud computing. (Kay Nietfeld/dpa via AP) Image: ASSOCIATED PRESS
BERLIN (AP) German Chancellor Olaf Scholz welcomed an announcement Thursday by Microsoft that it would invest almost 3.3 billion euros ($3.5 billion) in Germany over the next two years to massively expand its data center capacities for applications in the field of artificial intelligence and cloud computing.
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This is a really good commitment to progress, to growth, to modernity and to global openness as the basis for these opportunities, he said, adding it was also linked to the fact that Germany remains very determined to be an open economy.
Not only are we probably the most successful export economy in the world in terms of the size of our country, but we are also a country that trades with the whole world, that invests everywhere, but also invests in our own country, he said.
Microsoft President Brad Smith made the announcement in Berlin during a presentation with Scholz. The largest single investment in Microsofts 40-year history in Germany also includes an AI training program that aims to reach up to 1.2 million people, German news agency dpa reported.
Microsoft is looking to be close to major customers, such as the pharmaceutical company Bayer AG and energy company RWE, in order to keep data latency between data centers and applications as low as possible. The central German state of Hesse will also benefit from Microsofts investments.
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German chancellor welcomes Microsoft's $3.5 billion AI investment in Germany - Quartz