Microsoft declared Monday that it will invest 33.7 billion Swedish crowns ($3.2 billion) over two years to improve its Swedish cloud and artificial intelligence (AI) infrastructure.

The increasing demand for cloud services due to generative AI has encouraged Microsoft and Amazon Web Services to establish data centers across Europe. According to Reuters, Microsoft increased its UK, German, and Spanish data centers.

In an interview, Microsoft President Brad Smith remarked that more announcements might be made "in the fall."

Sandviken, Gävle, and Staffanstorp data centers will get 20,000 sophisticated graphics processing units from Microsoft. Smith stated that these machines, which speed up computer operations, will use Nvidia's faster processors and possibly AMD and Microsoft chips.

Because of the competition to build them, complex generative AI applications require advanced CPUs.

Microsoft promotes AI use in Denmark, Finland, Iceland, and Norway. Over the next three years, the firm will train 250,000 Swedes in AI capabilities for enterprises, schools, colleges, the public sector, and society.

Microsoft Recognizes Sweden's Huge Potential in AI

As corporations build data centers to train big language models, Goldman Sachs estimates the AI boom may be worth over $1 trillion to the IT sector.

Swedish Prime Minister Ulf Kristersson acknowledged that AI serves as a "multiplier or catalyst" for shifting technology.  He noted AI is part of their agenda as the country is entering an investment period after fighting inflation.

Microsoft President Smith voiced confidence in the country's AI potential. He called Sweden "one of the continent's most innovative countries" and said it must use AI to stay ahead, per Fortune.

Microsoft has also acquired approximately 1 gigawatt of Swedish renewable energy. Major energy consumers are targeting the Nordic area for its plentiful renewable energy supplies, especially hydropower. Meta Platforms, Inc., and Alphabet, Inc. have large Nordic facilities.

Data centers compete with other businesses for inexpensive power. Some large-scale green initiatives might quadruple electricity consumption in the next decade.

Smith noted Microsoft's renewable energy efforts, including securing roughly 1 gigawatt and establishing a deal with state-owned power firm Vattenfall AB, to address power shortage issues.

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Tech Leaders to Attend a Secret Meeting in Spain

In other news, the CEOs of Google DeepMind, Microsoft AI, Anthropic, and Mistral AI will attend a high-profile commercial and political event in Madrid, Spain. AI is anticipated to dominate discussions at the Bilderberg Meeting.

According to a report from CNBC, Citigroup CEO Jane Fraser, former Google CEO Eric Schmidt, Pfizer CEO Albert Bourla, Shell CEO Wael Sawan, and investor Peter Thiel will discuss trade, money, and biology. Moreover, US Deputy Treasury Secretary Wally Adeyemo, Ukrainian Foreign Minister Dmytro Kuleba, and NATO Secretary General Jens Stoltenberg will attend. 

The 70th annual gathering in Madrid goes through Sunday and draws 130 people, including previous and present prime ministers.

Chatham House regulations prevent exposing speaker identities or affiliations, making the Bilderberg Meeting notoriously private. Although organizers say this private format enables "informal discussions about major issues," the seclusion has sparked conspiracy theories like those surrounding Davos' World Economic Forum. People accuse attendees of overinfluencing world politics.

Organizers announced this year's gathering subjects, emphasizing numerous critical worldwide issues including AI safety, climate, geopolitics, China, Russia, and economic issues in Europe and the US. The conference comes after a year of AI technological advances, including new large language models (LLMs) that pose privacy, workforce, and social concerns. 

The Bilderberg Meeting, founded in 1954 to encourage discussion between Europe and North America, today has two-thirds Europeans and the rest Americans. Participants come as individuals, allowing for honest discussions without formal stances. There is no preparation or voting on an agenda, resolutions, or policy statements.

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