Microsoft Corp (NASDAQ:MSFT) Chair and Chief Satya Nadella reaffirmed the company’s commitment to Mexico during his keynote at the Microsoft AI Tour 2024.
Nadella announced a fresh investment of $1.3 billion over the next three years to drive AI infrastructure and initiatives aimed at digital marketing and AI skills. This initiative seeks to democratize access to AI skills and reach 5 million people.
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The investment will also work on improving connectivity and encouraging AI adoption by small and medium-sized businesses.
Recently, DA Davidson analyst Gil Luria downgraded the rating on Microsoft to Neutral from Buy as it lost its premium valuation to the AI competition.
Microsoft’s lead is now diminished in both the cloud and code generation businesses versus Amazon.Com Inc (NASDAQ:AMZN) Amazon Web Service, and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Cloud.
The AI ambitions of hyperscalers, including Microsoft, Amazon, Alphabet, and Meta Platforms Inc (NASDAQ:META), have been instrumental in driving the AI frenzy, leading to higher demand for Nvidia Corp (NASDAQ:NVDA) AI chips.
Microsoft stock is up over 35% in the last 12 months. Investors can gain exposure to Microsoft through SPDR S&P 500 (NYSE:SPY) and iShares Core S&P 500 ETF (NYSE:IVV).
Price Action: MSFT stock is trading higher by 0.08% to $429.52 premarket at the last check on Wednesday.
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This article Microsoft Invests $1.3B to Boost AI Skills and Infrastructure in Mexico originally appeared on Benzinga.com
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