Microsoft
Microsoft sells software and runs the Azure cloud, one of the largest buyers of NVIDIA systems. It is also a major investor in OpenAI.
MSFTRedmond, Washington, United StatesClouds & neoclouds; also investor
Exposure ≈$13B: $13B funded, $0 committed, $0 contingent (a maximum, not an expected loss).
Money loops
- Microsoft → OpenAI → Microsoft
Supplies
OpenAI buys from Microsoft · $250B
After the 2025 restructuring, OpenAI agreed to purchase $250 billion of Azure services, and Microsoft gave up its right of first refusal on OpenAI's cloud purchases.
Supplies Anthropic · $30B
Anthropic said in November 2025 it would buy $30 billion of computing capacity from Microsoft Azure running on Nvidia systems.
Buys from
Mistral AI supplies Microsoft
In July 2026 Mistral and Microsoft expanded their partnership. Microsoft agreed to use part of Mistral's European computing capacity, and Mistral models were added to Microsoft Foundry.
Buys from Nscale
Microsoft has contracted GPU capacity across Nscale sites in Norway, Portugal, the UK and the US, including the Narvik and Texas campuses.
NVIDIA supplies Microsoft
NVIDIA GB300 NVL72 systems power Azure's first at-scale GB300 cluster, built for OpenAI.
Money
Invests in OpenAI · $13B
Microsoft invested nearly $13B in OpenAI, much of it as Azure computing credits.
Invests in Inspur · $20M
Microsoft invested US$20 million in Inspur in 2005, according to Wikipedia.
Invests in Mistral AI · $16M
Microsoft announced a $16 million investment in Mistral AI in February 2024.
Invests in Anthropic
In November 2025, Nvidia and Microsoft were expected to invest up to $15 billion in Anthropic together.