Australia’s Labour Market Weakens as November Employment Drops Sharply 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Microsoft’s $4.8 Billion Investment to Strengthen AI and Cloud Infrastructure in Italy
Microsoft is set to invest 4.3 billion euros ($4.8 billion) over the next two years to expand its artificial intelligence (AI) and cloud infrastructure in northern Italy. This will be Microsoft’s largest investment in Italy to date, significantly boosting the region's digital capabilities and positioning the new ItalyNorth cloud region as one of the largest Microsoft data centers in Europe. This data hub will serve not only Italy but also the Mediterranean and North Africa, providing advanced AI and cloud services to a wider market.
Microsoft’s Largest Italian AI and Cloud Investment to Date
Microsoft Vice Chair and President, Brad Smith, met with Italy’s Prime Minister Giorgia Meloni in Rome to discuss the upcoming investment. The Prime Minister’s office welcomed the move, noting that it will enhance Italy’s digital role in the Mediterranean, reinforcing its strategic position in the AI and cloud infrastructure market.
Earlier in the week, Prime Minister Meloni also met with BlackRock Inc Chief Executive Larry Fink. The meeting was aimed at exploring potential investments in data centers and supporting energy infrastructure. The U.S.-based asset management giant, BlackRock, along with Microsoft, recently announced a $30 billion fund to invest in AI-driven data centers, AI supply chains, and energy sourcing. Initially, this fund will focus on opportunities in the U.S. market before expanding to U.S. partner countries.
Rising Demand for AI and Cloud Services in Italy
The demand for AI and cloud services is increasing rapidly across various sectors, including gaming and e-commerce. Companies are leveraging custom AI models to enhance their product offerings, and this significant investment by Microsoft will further drive growth in these sectors. The ItalyNorth cloud region will play a critical role in supporting AI integration and cloud services, contributing to the rapid digital transformation of businesses in the region.
Microsoft's $4.8 billion investment in AI and cloud infrastructure not only underscores its commitment to expanding its cloud services in Europe but also highlights the growing importance of Italy as a digital hub for the Mediterranean region.
($1 = 0.9056 euros)
