Prime Minister Anthony Albanese has unveiled a $5 billion investment from Microsoft (NASDAQ:MSFT), targeting the fortification and growth of Australia's digital economy.
This infusion of capital is set to reshape the nation's tech landscape over the next two years, marking a significant milestone in its journey to become a world-leading digital economy.
The cornerstone of this investment is Microsoft's plan to expand its hyperscale cloud computing and artificial intelligence (AI) infrastructure.
This expansion will extend its data centre footprint from 20 to 29 sites across Sydney, Canberra, and Melbourne.
This robust infrastructure aims to make Australia a global forerunner in cloud computing, a sector forecast to see its demand nearly double by 2026.
Today Microsoft are announcing an additional $5 billion to build more data centres across the country, and partner to train Australians for the jobs of the future.This partnership will ensure Australia’s place as a world-leading digital economy. pic.twitter.com/HRyQDMEpSU
— Anthony Albanese (@AlboMP) October 23, 2023
Major investment
Ccommenting on the investment, Albanese said: “This is a major investment in the skills and workers of the future, which will help Australia to strengthen our position as a world-leading economy.
“A priority for my Government is to ensure all Australians benefit from economic growth.
"This means that we need to provide the skills to enable Australians to succeed in the jobs of the future.
“A strong economy requires protection from cyber threats.
"I welcome Microsoft’s collaboration with the Australian Signals Directorate to enhance cybersecurity for households and business.”
Reduce skill gaps
In a concerted effort to address skill gaps, Microsoft, in partnership with TAFE NSW, will establish the Microsoft Data Centre Academy in New South Wales by 2024.
This academy will specialise in applied data centre skills, extending employment opportunities in the tech sector to under-represented demographics, including women and Indigenous Australians.
On the security front, Microsoft will introduce the Microsoft-ASD Cyber Shield program in collaboration with the signals directorate.
This initiative aims to enhance the country's cybersecurity posture, aligning with Australia's 2023-2030 Cyber-Security Strategy to create a cyber-resilient nation by 2030.
Big Deal
Australian minister for Industry and Science Ed Husic said that the investment is a “big deal" for the country's tech sector.
“Australia is one of the world’s most advanced users of cloud technologies and this investment will keep us at the forefront.
“This significant investment from Microsoft recognises the Albanese Government’s focus on supporting and growing our tech sector, including our target of 1.2 million tech jobs by 2030," Husic said.