Proactive Investors - Microsoft Corporation (NASDAQ:MSFT) announced it is investing US$500 million to expand its hyperscale cloud computing and artificial intelligence (AI) infrastructure alongside new AI and cybersecurity skilling initiatives in the province of Quebec, Canada.
The company said the investment will expand its cloud computing capacity by about 240% over the next three years.
Microsoft said it will also fast-track AI innovation in Quebec and allow organizations to build on the capacity already in place across the province, including an existing datacentre region.
The company pledged that all future datacentre locations in L’Ancienne-Lorette, Donnacona, Saint-Augustin-de-Desmaures, and Lévis, where construction is set to kick off in the coming months, will meet its sustainability goals of being carbon negative, water positive and zero waste by 2030.
“Today’s announcement builds on the extensive investments Microsoft has made in Quebec and is just the latest example of our deep commitment to this province,” Microsoft Canada president Chris Barry said in a statement.
“These investments will not only provide Quebec’s private and public sector organizations with more capacity and added resiliency to transform operations but will also enable a trusted and secure foundation to scale solutions faster to market and compete globally, securing Quebec’s future in the digital economy.”
Canadian Minister of Innovation, Science and Industry François-Philippe Champagne added that Quebec is at the forefront of global innovation on AI with one of the highest concentrations of deep learning researchers in the world.
“Our government is committed to working with the partners, like Microsoft, to ensure that all actors in the Canadian AI ecosystem have access to the resources and computing infrastructure they need to advance the commercialization of AI systems here at home, and to advance AI that provides social and economic benefits to all Canadians,” he said.
Microsoft supports more than 57,000 jobs and contributes more than $6.4 billion per year to Quebec’s economy, according to a report by Ernst & Young released Wednesday, coinciding with the investment announcement.
Microsoft shares added 1.1% to US$376.98 in premarket trade on Wednesday.
Follow her on X, formerly known as Twitter, @emilyjjarvie