India moving from digital to AI public infrastructure in next 5 years: Microsofts Rajiv Kumar

Meta Platforms' stock rose 7% to $712.56 after Wells Fargo raised its price target to $796, citing positive early traction for its Muse assistant. The increase comes ahead of Meta's Connect developer conference, where usage metrics for Muse will be a focus. Alphabet and Microsoft also saw gains, but Meta's rise was more pronounced. Investors await Connect for further validation of Wells Fargo's target.

Unsealed court documents in The New York Times' lawsuit against OpenAI and Microsoft reveal executives privately discussed AI training practices as theft. Internal communications suggest the companies scraped paywalled content, built large training datasets, and removed copyright notices. Microsoft's director called the scraping the largest theft of labor in history, while its CEO testified paywalled content should be licensed.

Nscale revealed that 85% of its $103B contracts are with Microsoft (MSFT) and Anthropic, including $43.8B with MSFT and $44.6B with Anthropic. The company acknowledged concentration risk and reported a net loss of $1.02B on $140.6M sales for H1. Nvidia (NVDA) is a major shareholder and supplier. Nscale aims for a $35B valuation in its upcoming IPO.

Microsoft opened its fourth cloud region in India, in Hyderabad, as part of a $20.5B investment in AI and cloud infrastructure. The facility supports advanced AI workloads and serves as a hub for Asia. Clients include Adani Group, Bajaj Finserv, HDFC Bank, and PB Pay. Microsoft aims to grow India's data-center capacity from 2GW to 12-14GW by 2035.

Microsoft launched its fourth cloud region in India, in Hyderabad, as part of a $20.5B investment. The company aims to expand cloud and AI infrastructure, citing India's growing data generation and need for increased data center capacity. Microsoft now has the largest hyperscale cloud presence in the country, with regions in Pune, Chennai, and Mumbai.

IREN announced $2.8B in new contracts, raising its annual revenue target to over $4B. It also completed Horizon 1 delivery for Microsoft. Shares rose 8% and 6% on the news. IREN's AI cloud business is growing, but it reported a $684M net loss in Q4 due to Bitcoin mining impairments. Management expects $4B in ARR by December 2027, with heavy capital spending. Analysts remain bullish, with a consensus 'Strong Buy' rating and a median price target of $77.