Microsoft’s Japan Investment Boosts Power, Industrial Shares
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Microsoft Corp.’s plan to invest $2.9 billion to boost hyperscale cloud computing and artificial intelligence infrastructure in Japan sent the country’s utility and industrial shares jumping.
Tokyo Electric Power Co. and Hokkaido Electric Power Co. each surged at least 4.7%, with a measure of utilities rising the most on the Topix index. Takasago Thermal Engineering Co., which develops clean room systems for chip makers, gained as much as 3.8%, while power transmission companies Kyudenko Corp. and Kinden Corp. also advanced.