Artificial intelligence startup Lambda and Microsoft (MSFT) announced a multi-billion dollar agreement on Monday that will see the two companies work together. Read for more.

Microsoft has entered into an approximately $9.7 billion cloud services contract with artificial intelligence cloud service provider IREN that will give it access to some of Nvidia’s chips

Artificial intelligence (AI) is coming in a big way. A recent United Nations Trade and Development report estimates that the global artificial intelligence market will grow to $4.8 trillion by 2033, a staggering 25-fold increase in just a decade.

As AI spending grows, so will the need for semiconductor capacity from TSMC. This should enable it to keep increasing revenue rapidly -- 41% year over year last quarter -- and perhaps eclipse $200 billion in sales in 2027. With a 50% operating margin, that would equate to $100 billion in bottom-line operating earnings.

IREN said it will fund the capital expenditures associated with the deal through a combination of existing cash, customer prepayments, operating cashflows and additional financing

The vision was outlined in an internal memo. Microsoft unveils major overhaul for one of its most widely used products: 'A partner that acts' first appeared on The Cool Down.

Microsoft CEO Satya Nadella talked up the “fungibility” of its technology in response to concerns about an AI overbuild.

Microsoft's spending on artificial intelligence infrastructure soared to a record of nearly $35 billion in the September quarter, deepening investor