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MEXICO CITY (Reuters) -Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday.
"We're doubling down on bringing more capacity to Mexico," Chairman and CEO Satya Nadella said at an event in Mexico City.
The investment will go toward improving connectivity and boosting the adoption of AI technology by small and medium-sized businesses (SMBs), the firm said in a statement.
The initiative aims to reach 5 million Mexicans and 30,000 SMBs in three years, according to the statement.
Already, Mexican firms such as breadmaker Bimbo and cement producer Cemex use Microsoft's AI tools.
Microsoft and communications company Viasat are also working to bring the internet to more than 150,000 Mexicans previously without cellular connectivity by the end of 2025, Microsoft said.
"This is great news for our country," incoming Economy Minister Marcelo Ebrard said in a post on X after meeting with Nadella, adding that the planned investment will help Mexico quickly boost its AI capabilities.
(Reporting by Diego Ore and Kylie Madry; Editing by Sarah Morland and Chizu Nomiyama)
