As per available documentation, power bi reports and dashboards will be published to microsoft cloud. Can we configure on-premise server to host power bi reports just like SSRS reports?
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This feature was in the Idea site of Power BI and they have just rolled out a preview.
You can access the preview in the form of a Azure VM here: https://blogs.msdn.microsoft.com/sqlrsteamblog/2016/10/25/announcing-a-technical-preview-of-power-bi-reports-in-sql-server-reporting-services