Elon Musk's Raging Feud Aside, Brazil Attracts $2.7B Investment From Microsoft To Boost AI Ecosystem
- by Benzinga.com
- Sep 27, 2024
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Ananya Gairola, Benzinga Staff Writer
September 26, 2024 11:04 PM
| 2 min read — Evan (@StockMKTNewz) September 26, 2024
According to a study commissioned by the Satya Nadella company, widespread AI adoption in Brazil could boost the country's GDP growth by 4.2 percentage points by 2030.
Brazil currently has a population of more than 220 million people, with at least 177 million internet users as of 2023. According the Statista, the number of internet users in Brazil is projected to grow by 34.2 million between 2024 and 2029.
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Why It Matters: While Microsoft is advancing in Brazil, Musk’s companies, particularly X and Starlink, are encountering substantial legal and operational hurdles.
Access to X has been blocked in Brazil since late August 2024, following the company’s failure to comply with orders to block certain accounts accused of spreading misinformation and hate speech.
This decision came after a protracted dispute between Musk and Justice Alexandre de Moraes.
Brazil’s Supreme Court has now also unfrozen Musk’s companies’ bank accounts after they transferred approximately $3.3 million to cover fines owed by X.
X is now seeking to restore its services in Brazil by appointing a legal representative and complying with other court orders.
Previously, Brazilian President Luiz Inácio Lula da Silva also criticized Musk’s ideological stand and stated, “The world is not obliged to put up with Musk’s far-right ideology just because he is rich.”
Photo Courtesy: Shutterstock.com
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