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Investing.com -- Nvidia Corporation (NASDAQ:NVDA) edged higher in after-hours trading, rising 0.5%, Thursday following a Bloomberg report that Microsoft plans to more than triple its data center capacity.
Bloomberg reported that Microsoft Corp. plans to expand its data center network to more than 38 gigawatts of capacity by 2032, up from approximately 12 gigawatts currently. The expansion would eclipse the electricity consumption of New York state during peak periods.
The planned capacity increase includes company-owned and leased facilities, excluding computing power rented from neoclouds like Coreweave Inc., according to people familiar with the plans cited by Bloomberg. The sources cautioned that the road map could change as server farms take years to develop and shifting customer preferences and new technology can alter current assumptions.
The expansion comes as Microsoft works to address a computing shortage that has forced the company to turn away some AI and cloud business. Microsoft's capital expenditures reached $145 billion in its most recent fiscal year, with analysts expecting spending to continue growing.