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Microsoft (NasdaqGS:MSFT), Nscale, and Start Campus are launching a multi year AI data center expansion in Portugal and the EU.
The project includes more than 66,000 NVIDIA Rubin GPUs and builds on an existing deployment of over 12,600 NVIDIA Blackwell Ultra GPUs for Microsoft in Portugal.
The new infrastructure is described as one of Europe’s largest AI data center projects and is intended to support AI workloads and cloud projects across the region.
For anyone tracking Microsoft (NasdaqGS:MSFT), this move adds fresh detail to how the company is building out its AI and cloud infrastructure in Europe. The partnership with Nscale and Start Campus focuses on large scale GPU capacity, which sits at the core of training and running complex AI models across Azure and related services.
The scale of this build out may be relevant if you care about where AI workloads are likely to be hosted, and how regional capacity could affect competition among global cloud providers. It also highlights how AI infrastructure projects can tie into local supply chains and employment, which some investors consider when thinking about longer term exposure to specific regions such as the EU and Portugal.
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NasdaqGS:MSFT Earnings & Revenue Growth as at May 2026
📰 Beyond the headline: 1 risk and 5 things going right for Microsoft that every investor should see.
Quick Assessment
✅ Price vs Analyst Target: At US$413.62, the stock trades about 26% below the US$558.21 analyst price target.
✅ Simply Wall St Valuation: Flagged as undervalued, trading around 28.2% below an estimated fair value.
✅ Recent Momentum: 30 day return of about 10.8% points to positive short term sentiment.
There is only one way to know the right time to buy, sell or hold Microsoft. Head to Simply Wall St’s company report for the latest analysis of Microsoft’s Fair Value.
Key Considerations
📊 The Portugal and EU AI build out highlights how Microsoft is committing significant hardware capacity to support Azure and AI services in the region.
📊 Monitor how AI related capex, GPU utilisation and Azure AI workload trends are discussed in future earnings and guidance.
⚠️ Large multi year projects can bring execution, regulatory and cost overrun risks, which sit alongside existing flags such as recent insider selling.
Dig Deeper
For the full picture, including more risks and potential rewards, check out the complete Microsoft analysis. Alternatively, you can visit the community page for Microsoft to see how other investors believe this latest news will impact the company’s narrative.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include MSFT.
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