Islamabad, Oct 3: Microsoft has announced plans to invest €4.3 billion ($4.8 billion) over the next two years to expand its AI and cloud infrastructure in northern Italy. This represents the company’s largest investment in Italy to date.
The expansion will make the ItalyNorth cloud region one of Microsoft’s biggest data centers in Europe, serving as a hub for the Mediterranean and North Africa.
Microsoft’s Vice Chair and President, Brad Smith, met with Italian Prime Minister Giorgia Meloni in Rome to discuss the investment, which the Italian government welcomed, recognizing its role in strengthening Italy’s digital presence in the Mediterranean.
This announcement follows discussions with BlackRock Inc., which is also interested in investments in data centers and energy infrastructure.
Both companies recently launched a fund of over $30 billion to invest in AI-related data centers and supply chains, focusing first on the U.S. and partner countries.
The demand for AI and cloud services is surging across various industries, from gaming to e-commerce, as businesses increasingly integrate AI models to enhance their offerings.
