Microsoft has announced it will expand its AI and cloud infrastructure in Spain through an investment of $2.1bn (€1.9bn) over the next two years.
In a post on X, Microsoft Vice Chair and President Brad Smith said the AI investment in Spain is beyond “just building data centers”.
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“It’s a testament to our 37-year commitment to Spain, its security, and development and digital transformation of its government, businesses, and people,” Smith said.
The move follows the US tech giant’s announcement of $3.45bn in AI investment in Germany, as the company looks to gain a competitive edge in the emerging technology across Europe.
The value of AI deals grew in 2023 but peaked in 2020, according to GlobalData’s Deal Database.
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In 2023, the value of AI deals in Spain totalled $1.3bn, a substantial increase over 2022 which totalled $751m.
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By GlobalDataDeals in Spain peaked in 2020 with a total value of $1.9bn, which marked a huge increase from the year prior which saw AI deals total just $110m.
According to GlobalData forecasts, the total AI market, including software, hardware, and services, will be worth $383.3bn in 2030, having grown at a compound annual growth rate (CAGR) of 21.4% from $81.3bn in 2022.
The global specialized AI applications market will be worth $146bn in 2030, up from $31.1bn in 2022 at a CAGR of 21.3%.
