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Tech June 4, 2024

Microsoft to invest $3.2 billion in Swedish cloud, AI

Microsoft announced a significant investment of 33.7 billion Swedish crowns ($3.2 billion) to expand its cloud and artificial intelligence (AI) infrastructure in Sweden over two years. This move is driven by the increasing demand for cloud services, particularly due to the popularity of generative AI. The investment includes deploying 20,000 advanced graphics processing units at data center sites in Sandviken, Gavle, and Staffanstorp, utilizing processors from Nvidia and potentially from AMD and Microsoft’s own chips in the future.

The company aims to boost AI adoption across the Nordic region, including Sweden, Denmark, Finland, Iceland, and Norway, by training 250,000 individuals with AI skills across various sectors over three years. Additionally, Microsoft is investing in renewable energy, having procured nearly 1,000 megawatts of renewable energy in Sweden.

Goldman Sachs views the AI boom as a significant opportunity, estimating it to be nearly a trillion-dollar sector, as tech companies invest in data centers to support AI-driven applications. Swedish Prime Minister Ulf Kristersson sees AI as a transformative technology, emphasizing its role as a multiplier or catalyst for future investments, particularly after addressing inflation concerns.

Source – CGTN

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