SAO PAULO (Reuters) - Microsoft (NASDAQ:MSFT) on Thursday pledged to invest 14.7 billion reais ($2.70 billion) in Brazil over three years to enhance its cloud infrastructure and artificial intelligence (AI) in Latin America's largest economy.
WHY IT'S IMPORTANT
The amount is the largest-ever investment to be announced at once in Brazil by Microsoft, which said massive adoption of AI could add as much as 4.2 percentage points to Brazil's economic growth by the end of the decade.
ADDITIONAL CONTEXT
The investments are part of the broader "Microsoft Mais Brasil" program disclosed by the U.S. tech giant in 2020 to reinforce its long-term commitment to the South American nation.
The company said it will expand its cloud and AI infrastructure in several datacenters in Sao Paulo state and offer AI training to some 5 million people over the next three years.
KEY QUOTES
"We are committed to supporting the AI transformation in Brazil and ensuring it benefits everyone," Microsoft Chief Executive Satya Nadella said.
Brazilian Vice President Geraldo Alckmin said the investment proves the country can be a global AI protagonist, and emphasized the renewable energy supply available in Brazil to power datacenters.
($1 = 5.4376 reais)