Microsoft Power Cost Plan

Benzinga

Microsoft said it will pay higher electricity and grid upgrade costs for its data centers to prevent local utility customers from bearing higher power prices tied to AI demand.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Microsoft said it will seek to pay higher electricity bills in areas where it builds

00:07data centers to prevent local utility customers from facing higher prices tied to rising AI

00:13power demand, according to CNN. The company said it will cover the cost of electricity

00:17used by its data centers and pay for grid upgrades needed to support them.

00:21President Brad Smith announced the plan on Tuesday in Washington, D.C.

00:25Microsoft also said it will pay for water replenishment

00:28when data centers draw on local supplies and will not seek property tax abatements.

00:33The company plans investments in local water systems, libraries, schools, and job and AI

00:37skills training. The announcement follows comments from Trump about working with technology companies

00:43to address electricity affordability concerns. For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended