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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.
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