Satya Nadella, chief executive officer of Microsoft Corp., in the course of the company’s Ignite Highlight event in Seoul, South Korea, on Tuesday, Nov. 15, 2022. Nadella gave a keynote speech at an event hosted by the corporate’s Korean unit. Photographer: SeongJoon Cho/Bloomberg via Getty Images
SeongJoon Cho | Bloomberg | Getty Images
The CEO of Microsoft says he’s bullish about Asia, especially China and India, as Microsoft plans to construct more data centers world wide.
“Absolutely. We’re very, very bullish about what’s happening in Asia,” Satya Nadella, chairman and CEO of Microsoft, told CNBC’s Tanvir Gill in an interview Thursday, adding that Microsoft is investing in at the least 11 regions.
“We’re absolutely committed to all of those countries and in China too. Today, we primarily work to support multinational firms that operate in China and multinational firms out of China.”
He also added that India has been a “massive growth market” after emerging from the pandemic.
“Microsoft’s presence in India was about mostly multinational firms operating in India. But for now, it’s completely modified,” he said.
“It is the reverse where these firms who’re innovating in India, whether it’s the large large conglomerates, or the brand new startups, are all using [artificial intelligence] cloud technology to find a way to innovate and create services which might be obviously popular in India and elsewhere,” he told CNBC.
Microsoft previously told Indian media outlet Economic Times that there is a huge demand in development of latest native cloud applications in India.
Tech layoffs
Microsoft in October announced a round of layoffs affecting lower than 1% of its employees. Meanwhile, Meta is cutting 11,000 staff, while Snap is shedding greater than 1,000 people.
“The present labor markets are far more resilient,” said Nadella, adding that almost all firms from energy firms to banks and retailers need software engineers.
He added that no industry is proof against macroeconomic issues. “So everyone has to administer the prices and demand properly,” he said.
“Certainly one of the fascinating things in regards to the U.S. is the quantity of capital that is getting invested,” he said, adding that latest industrial infrastructure reminiscent of fabrication plants, power plants and battery factories are being built.
“I’m far more focused on observing where what is occurring by way of latest growth inside the USA. So I’m very, very optimistic in regards to the U.S. and the world.”
Nadella replaced billionaire Steve Ballmer as Microsoft CEO in 2014. Prior to that, Nadella was executive vice-president of Microsoft’s cloud and enterprise group.
Microsoft shares were at $241.73 in after-hours trade. Shares have dropped 27.8% year-to-date.
— This can be a developing story. Please check back for updates.
