Microsoft shows off 'Cloud for Sovereignty,' governments to have greater control over data
Jean-Luc Ichard

Microsoft (NASDAQ:MSFT) announced Microsoft Cloud for Sovereignty on Tuesday, a new public cloud that will let governments around the world have greater control over data and "increased transparency." 
In a blog post, the tech giant said Cloud for Sovereignty is being built on its public cloud and will let governments around the world "accelerate digital transformation while creating a customized experience adhering to government requirements." 
Microsoft (MSFT) shares rose nearly 2% to $259.07 in late-day trading on Tuesday. 
The company acknowledged two customers already using Cloud for Sovereignty, Italian-based defense contractor Leonardo and Belgium-based telecom company, Proximus.
"As we continue to roll out and expand our solution footprint across our datacenter regions, we look forward to working closely with partners throughout the world to help government customers digitally transform, leveraging todayâs powerful capabilities of the Microsoft Cloud," Microsoft vice president Corey Sanders said in the blog post. 
Redmond, Washington-based Microsoft (MSFT) is slated to report fiscal fourth-quarter results on July 26. A consensus of analysts expect the company to earn $2.29 per share on $52.41B in revenue.
On Monday, investment firm Bank of America reiterated that Microsoft (MSFT) is still the firm's top tech pick, despite expected weakness from the PC.