12:08 PM EDT, 10/02/2024 (MT Newswires) -- Microsoft ( MSFT ) plans to invest 4.3 billion euros ($4.75 billion) during next two years to improve its artificial intelligence infrastructure and cloud capacity in Italy, Reuters reported Wednesday, citing a company statement.

The investment marks Microsoft's ( MSFT ) largest commitment in Italy to date, the report said.

BlackRock (BLK) CEO Larry Fink recently met Italian Prime Minister Giorgia Meloni to discuss possible investments in the cloud infrastructure. BlackRock and Microsoft ( MSFT ) have previously announced a fund to invest in AI sphere, Reuters reported.

Microsoft ( MSFT ) did not immediately respond to MT Newswires' request for comment.

Shares of Microsoft ( MSFT ) fell 0.5% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 418.66, Change: -2.03, Percent Change: -0.48