In order to significantly increase the power and charging times of electric vehicles, Microsoft stock (NASDAQ:MSFT) on Wednesday made a new investment in a startup using its climate innovation fund.
The inventor of superior silicon battery technology Group14 Technologies said that Microsoft (NASDAQ:MSFT) had contributed to a $214M investment round for the company. The size of Microsoft’s (NASDAQ:MSFT) investment was not made public, but Group14 is now reportedly worth around $3 billion.
The Biden Administration and Department of Energy recently awarded Group14 a $100M grant to advance its battery innovations in addition to the fresh money from Microsoft (MSFT) and a few investment firms. In April 2021, Group14, which has a location close to Microsoft (MSFT) in Woodinville, Washington, announced the opening of its first factory producing battery materials.
Other Developments Likely to Influence Microsoft Stock
On Wednesday, Microsoft (NASDAQ:MSFT) furthered its entry into the satellite Internet market when Viasat (VSAT) announced that it had reached a new agreement with Microsoft (MSFT) to increase Internet connectivity in Africa and other parts of the world. After the satellite network operator announced a partnership with Microsoft (NASDAQ:MSFT) to improve internet connectivity on the continent of Africa and around the world, Viasat’s (NASDAQ:VSAT) shares increased by almost 6% in premarket trading on Wednesday.
By the end of 2025, Viasat (VSAT), as part of the Microsoft Airband Initiative agreement, will assist in connecting 5 million people in Africa and an additional 5 million people worldwide.
The Airband initiative will concentrate its efforts on the DRC, Nigeria, Guatemala, Mexico, and the United States. It will also give the program’s expansion to Egypt, Angola, and Senegal as a priority. The two companies’ partnership strengthens their already-existing relationship because Viasat (VSAT) has used Microsoft’s (MSFT) Azure Space platform to increase satellite connectivity.
Microsoft Stock: Strong, Durable Demand To Drive Growth
Featured Image – Pexels © Salvatore De Lellis
Author Jowi Kwasu 
