Microsoft has announced plans to invest €4.3 billion ($4.8 billion) over the next two years to expand its artificial intelligence (AI) and cloud infrastructure in northern Italy.
This will mark the U.S. company’s largest investment in the country to date. The development will transform the ItalyNorth cloud region into one of Microsoft’s largest data centers in Europe, serving as a hub for data in the Mediterranean and North African regions.
Microsoft Chairman Brad Smith met with Italian Prime Minister Giorgia Meloni in Rome on Wednesday to discuss the investment, which the Italian government views as a significant boost to the country’s digital influence in the Mediterranean region. This follows recent meetings between Meloni and BlackRock CEO Larry Fink, who is exploring investments in data centers and energy infrastructure in Italy, Reuters news report said.
In September, Microsoft and BlackRock announced a $30 billion fund aimed at AI-focused data centers and supply chains, with initial investments targeting the U.S. before expanding to U.S. partner countries.
