Advertisement
U.S. markets closed
  • S&P 500

    5,088.80
    +1.77 (+0.03%)
     
  • Dow 30

    39,131.53
    +62.42 (+0.16%)
     
  • Nasdaq

    15,996.82
    -44.80 (-0.28%)
     
  • Russell 2000

    2,016.69
    +2.85 (+0.14%)
     
  • Crude Oil

    76.57
    -2.04 (-2.60%)
     
  • Gold

    2,045.80
    +15.10 (+0.74%)
     
  • Silver

    22.98
    +0.19 (+0.84%)
     
  • EUR/USD

    1.0823
    -0.0005 (-0.04%)
     
  • 10-Yr Bond

    4.2600
    -0.0670 (-1.55%)
     
  • GBP/USD

    1.2673
    +0.0015 (+0.12%)
     
  • USD/JPY

    150.4400
    -0.0600 (-0.04%)
     
  • Bitcoin USD

    51,592.40
    +540.91 (+1.06%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,706.28
    +21.79 (+0.28%)
     
  • Nikkei 225

    39,098.68
    +836.48 (+2.19%)
     

Microsoft (MSFT) to Build Multiple Data Centers in Quebec

Microsoft MSFT announced that it is set to invest $500 million in expanding its hyperscale cloud computing and artificial intelligence (AI) infrastructure in Quebec over the next two years. This investment is aimed at reinforcing Quebec's innovation economy, creating high-value jobs and preparing the province for the evolving AI economy.

The investment is expected to increase the company's local cloud infrastructure footprint by 750% across Canada. Specifically, the digital infrastructure investment in Quebec is projected to expand computing capacity by approximately 240% over the next three years.

A report from Ernst & Young LLP highlighted the positive economic impact of Microsoft and its ecosystem in Quebec. The ecosystem, which includes more than 3,200 partners and significant cloud infrastructure accounts, supports over 57,000 jobs and contributes more than $6.4 billion annually to Quebec's GDP.

Quebec is recognized for its leadership in AI, boasting one of the highest concentrations of deep learning researchers globally. MSFT's investment aligns with the provincial government's commitment to supporting the AI ecosystem and ensuring that all actors in the Canadian AI ecosystem have the necessary resources and computing infrastructure for advancing AI systems.

Microsoft is set to construct new data center locations in L'Ancienne-Lorette, Donnacona, Saint-Augustin-de-Desmaures and Lévis. These locations will be designed to align with the company's sustainability goals, aiming to be carbon negative, water positive and zero waste by 2030. This includes the use of low-carbon materials during construction, renewable energy, advanced cooling features and measures to decrease diesel fuel use during operation.

Microsoft Corporation Price and Consensus

Microsoft Corporation Price and Consensus
Microsoft Corporation Price and Consensus

Microsoft Corporation price-consensus-chart | Microsoft Corporation Quote

MSFT Partners With Industry Leaders in Quebec to Boost AI Innovation

This Zacks Rank #3 (Hold) company has partnered with KPMG Canada and NPower Canada to address the challenges and opportunities presented by digital transformation and AI advancements, and the need for a skilled workforce in Quebec's digital economy. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Operational Risk Skills Development Centre, a joint initiative of KPMG Canada and Microsoft Canada, aims to provide hands-on French-first training to businesses and governments. This training focuses on building cybersecurity protections, navigating the challenges and opportunities of GenAI and implementing AI responsibly. The $1.7 million investment over three years signals a commitment to addressing the growing concerns around cybersecurity and the need for skilled professionals to manage operational risks.

NPower Canada, in collaboration with Microsoft Canada, is expanding its Canadian Tech Talent Accelerator in Quebec to provide digital training and career development opportunities. The collaboration involves a significant investment from DIGITAL, Microsoft and the CIBC Foundation, demonstrating a multi-stakeholder commitment to fostering digital skills and career development.

The expansion includes the launch of an intermediate Junior Data Analyst program in Quebec, utilizing MSFT’s Azure AI Fundamentals certification. This aims to equip job-seekers with essential skills for digitally-enabled careers, reflecting the demand for professionals in data analytics and AI.

The goal of training more than 11,000 learners in the first phase of the Operational Risk Skills Development Centre and the launch of the Junior Data Analyst program by NPower Canada suggest a focus on scale and long-term impact.

Microsoft’s recent AI efforts are expected to counter industry players making advancements in the field of AI like C3.ai AI, Rapid7 RPD and Appian APPN.

C3.ai recently announced the AWS Marketplace listing of its no-code, self-service generative AI application — C3 Generative AI: AWS Marketplace Edition. The solution will empower workers of all skill levels to start using their own enterprise generative AI application within a short span of time.

Rapid7 has rolled out its groundbreaking threat detection solution for public cloud environments. The AI-based Cloud Anomaly Detection solution is designed to sift through false alerts from active threats, allowing organizations to identify genuine threats without wasting valuable time and resources.

Appian is strengthening its portfolio with the launch of the latest version of the Appian Platform for AI process automation. The solution aims to improve end-to-end automation and data-driven decisions using self-service analytics and generative Private AI.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Microsoft Corporation (MSFT) : Free Stock Analysis Report

C3.ai, Inc. (AI) : Free Stock Analysis Report

Rapid7, Inc. (RPD) : Free Stock Analysis Report

Appian Corporation (APPN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Advertisement