Takeaways
- Microsoft is investing $3.2 billion in cloud computing and AI infrastructure in Australia.
- The company will work with Australian authorities to strengthen the country's cybersecurity apparatus. country.
- Microsoft will also provide training for Australians in key skills to support success in the digital economy.
Microsoft (MSFT) announced it was spending A$5 billion ($3.2 billion) to build out its AI and cloud computing infrastructure in Australia, which chairman Brad Smith said was Microsoft's largest investment in its four decades of operation in this country.
Microsoft said the move would boost its computing capabilities in Australia by 250%. This effort would also involve helping to strengthen the country’s cybersecurity apparatus.
In addition to this money, The company said it would support training 300,000 Australians in key skills to succeed in the digital economy.
The announcement was made while Australian Prime Minister Minister Anthony Albanese was in the United States for a four-day visit, which will include a meeting with US President Joe Biden. Technological advancements should be among the topics covered. Albanese called Microsoft's initiative a major investment in the skills and workers of tomorrow in his country.
Microsoft's actions were 0.8% higher on Monday, and they have added more than a third to their value this year.
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Source: investopedia.com