However, Microsoft shares have become incredibly expensive.

Artificial intelligence startup Lambda and Microsoft (MSFT) announced a multi-billion dollar agreement on Monday that will see the two companies work together. Read for more.

Tech giant Microsoft ($MSFT) recently ran afoul of a major issue in artificial intelligence (AI) infrastructure: a lack of electricity. In fact,

Morningstar analysts earlier this month published a list of the best artificial intelligence (AI) stocks to buy now. The top two spots were awarded to Microsoft ( MSFT +0.59%) and Taiwan Semiconductor Manufacturing ( TSM +1.54%). Other analysts may not classify them as the "best" AI stocks to buy now, but Wall Street is generally bullish.

As AI spending grows, so will the need for semiconductor capacity from TSMC. This should enable it to keep increasing revenue rapidly -- 41% year over year last quarter -- and perhaps eclipse $200 billion in sales in 2027. With a 50% operating margin, that would equate to $100 billion in bottom-line operating earnings.

IREN said it will fund the capital expenditures associated with the deal through a combination of existing cash, customer prepayments, operating cashflows and additional financing

Microsoft has deep corporate ties and has entrenched itself as a key partner for OpenAI. These two tech juggernauts could dominate an AI market that will potentially be worth trillions of dollars in the not-too-distant future. Artificial intelligence (AI) is coming in a big way.