Microsoft Satya Nadella is ‘very bullish’ on Asia, China and India

The CEO of Microsoft says he’s bullish about Asia, particularly China and India, as Microsoft plans to construct extra knowledge facilities world wide.

“Completely. We’re very, very bullish about what’s occurring in Asia,” Satya Nadella, chairman and CEO of Microsoft, advised CNBC’s Tanvir Gill in an interview Thursday, including that Microsoft is investing in at the very least 11 areas.

“We’re completely dedicated to all of those international locations and in China too. Right this moment, we primarily work to assist multinational corporations that function in China and multinational corporations out of China.”

He additionally added that India has been a “huge development market” after rising from the pandemic.

“Microsoft’s presence in India was about principally multinational corporations working in India. However for now, it is fully modified,” he stated.

“It is the reverse the place these corporations who’re innovating in India, whether or not it is the massive giant conglomerates, or the brand new startups, are all utilizing [artificial intelligence] cloud know-how to have the ability to innovate and create providers which might be clearly common in India and elsewhere,” he advised CNBC.

Microsoft beforehand advised Indian media outlet Financial Instances that there is a big demand in growth of latest native cloud functions in India.

As U.S. tech giants face mass layoffs, Nadella stated he was optimistic concerning the labor market there.

Microsoft in October introduced a spherical of layoffs affecting lower than 1% of its staff. In the meantime, Meta is slicing 11,000 staff, whereas Snap is shedding greater than 1,000 individuals.

“The present labor markets are rather more resilient,” stated Nadella, including that almost all corporations from power companies to banks and retailers want software program engineers.

He added that no trade is proof against macroeconomic points. “So everybody has to handle the prices and demand correctly,” he stated.

“One of many fascinating issues concerning the U.S. is the quantity of capital that is getting invested,” he stated, including that new industrial infrastructure resembling fabrication crops, energy crops and battery factories are being constructed.

“I’m rather more targeted on observing the place what is occurring by way of new development inside the US. So I am very, very optimistic concerning the US and the world.”

Nadella changed billionaire Steve Ballmer as Microsoft CEO in 2014. Previous to that, Nadella was government vice-president of Microsoft’s cloud and enterprise group.

Microsoft shares had been at $241.73 in after-hours commerce. Shares have dropped 27.8% year-to-date.

— It is a growing story. Please examine again for updates.