ALBAWABA - Microsoft is purchasing 407 acres of land in the state of Wisconsin, USA, to build a new data center. The American technology company bought the land for $76 million earlier this month, as reported by the Milwaukee Business Journal.
The deal's value exceeds more than three times the amount offered by the local government to the owner in 2017, as part of an agreement with the Foxconn conglomerate, known for its involvement in iPhone production.
Simultaneously, Microsoft has entered into real estate deals with local governments and counties in the region for the development of its data center.
the first phase of development, valued at one billion dollars, is currently underway. This phase is expected to create 200 job opportunities, with future construction adding another 460 positions. As the race for artificial intelligence intensifies, major technology companies, such as Microsoft, heavily invest in building data centers.
A report by Wedbush predicts that Microsoft's stock will reach record levels in 2024 as new technology products attract the attention of Microsoft Azure customers.
