Satya Nadella, chief executive officer of Microsoft Corp., during the company’s Ignite Spotlight event in Seoul, South Korea, Tuesday, Nov. 15, 2022. Nadella delivered the keynote speech at the event, hosted by the company’s Korean division. Photographer: SeongJoon Cho/Bloomberg via Getty Images
Songjun Cho | Bloomberg | Getty Images
General director of the company Microsoft says he is optimistic about Asia, especially China and India, as Microsoft plans to build more data centers around the world.
“Of course. We’re very, very bullish on what’s happening in Asia,” Satya Nadella, Microsoft’s chairman and CEO, told CNBC’s Tanveer Gill on Thursday, adding that Microsoft is investing in at least 11 regions.
“We are absolutely committed to all these countries and China as well. Today, we are primarily working to support multinationals operating in China and multinationals from China.”
He also added that India has become a “massive growth market” after emerging from the pandemic.
“Microsoft’s presence in India was mostly about multinational companies operating in India. But at the moment everything has completely changed,” he said.
“It’s the other way around when these companies that are innovating in India, whether they’re big big conglomerates or new startups, are using [artificial intelligence] cloud technology to be able to innovate and create services that are obviously popular in India and other countries,” he told CNBC.
Microsoft previously told Indian media outlet Economic Times that there is a huge demand for new native cloud application development in India.
How US tech giants face mass layoffsNadella said he is optimistic about the labor market there.
Microsoft in October announced the layoff of less than 1% of its employees. Meanwhile, Meta is cutting 11,000 employees and Snap is laying off more than 1,000 people.
“Today’s job markets are much more stable,” Nadella said, adding that most companies, from energy to banks to retailers, need software engineers.
He added that no industry is immune from macroeconomic problems. “So everyone has to manage costs and demand properly,” he said.
“One of the exciting things about the U.S. is the amount of capital being invested,” he said, adding that new industrial infrastructure such as manufacturing, power plants and battery plants are being built.
“I’m much more focused on watching what happens in terms of new growth within the United States. So I’m very, very optimistic about the US and the world.”
Nadella succeeded billionaire Steve Ballmer as CEO of Microsoft in 2014. Prior to that, Nadella was executive vice president of Microsoft’s Cloud and Enterprise Group.
During the off-hours, Microsoft shares were worth $241.73. Since the beginning of the year, shares have fallen by 27.8%.
– This is a developing story. Check for updates.
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