Microsoft to Rent $6.2 Billion of Computing Power in Norway (1)

Microsoft Corp. will pay $6.2 billion to rent AI computing power in Norway.

The British data center company Nscale Global Holdings Ltd. and Norwegian investment company Aker ASA will provide the capacity, the companies said in a statement Wednesday. The project will be powered by “secured grid capacity and entirely renewable electricity.”

Aker’s shares rose as much as 7.7% in Oslo on Thursday to 769 kroner, the highest since February 2023. Microsoft shares were little changed pre-market.

The world’s largest software maker has been renting more cloud capacity from third-party providers such as Coreweave Inc. of late. Last week, Microsoft ...