Microsoft Corporation (NASDAQ:MSFT) is one of the 10 Stocks That Can Still Skyrocket On The Neo Cloud Boom.
On June 11, Wells Fargo analyst Michael Turrin maintained his Buy rating on Microsoft Corporation (NASDAQ:MSFT) stock and a price target of $650
As a relatively underperforming hyperscaler, the upside in Microsoft stock continues to be attractive. The company is one of the largest drivers of AI infrastructure spending and could be a huge beneficiary once its AI ecosystem is set up. Last month’s collaboration between Nscale and Microsoft was one example of how the tech giant is benefiting from the neocloud boom.
On May 5, Nscale announced its plan in collaboration with Microsoft Corp (NASDAQ:MSFT) to spend approximately $812 million on infrastructure in Portugal. Neocloud provider Nscale installed more than 12,600 powerful Nvidia Blackwell Ultra AI chips for Microsoft at a data center in Sines, Portugal. This investment of $812 million is one of the most significant AI infrastructure projects in the EU and one of the largest in Portugal to date.