Technology
Microsoft to invest $3.2 bln in Swedish cloud, AI


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Microsoft (MSFT.O), will invest 33.7 billion Swedish crowns ($3.2 billion) to expand its cloud and artificial intelligence infrastructure in Sweden over a two-year period, it said on Monday.

The rising popularity of generative AI has fueled demand for cloud services, prompting companies including Microsoft and Amazon Web Services (AMZN.O), to invest billions of dollars to build data centres in Europe.

Microsoft invested in data centres in the UK in November and Germany and Spain in February.

"You will see some other announcements, probably more in the fall," Microsoft President Brad Smith said in an interview.