Amazon Commits US$11 Billion to Expand Cloud and Logistics in Germany
Amazon plans to invest ten billion euros (US$10.75 billion) in Germany to boost cloud services and retail items. The majority of the investment, 8.8 billion euros, will be used to build Amazon Web Services' (AWS) cloud infrastructure. The investment is estimated to generate approximately 4,000 new jobs in Germany.
The majority of this investment, over 8.8 billion euros, would go into developing the cloud infrastructure of its computing subsidiary, Amazon Web Services (AWS), with an emphasis on using Artificial Intelligence (AI)-powered technologies throughout Europe.
This large investment comes as Amazon recognises AI's growing potential and the need for a robust cloud infrastructure to enable it. By expanding AWS in Germany, Amazon hopes to increase its position in the European market and meet rising demand for cloud services. German Chancellor Olaf Scholz applauded Amazon's investment, citing its good influence on employment creation.
The investment is likely to create nearly 4,000 new employment this year, emphasising Germany's appeal to overseas investors. This news represents a key milestone in Amazon's commitment to Germany, increasing the total planned investment to 17.8 billion euros.
The company's continuing investment in Germany indicates its belief in the country's economic potential and willingness to contribute to its development. In addition to Germany, Amazon is eyeing multibillion-dollar investments in expanding its data centres in Italy, according to Reuters in May.
Amazon to invest 10 billion euros (US$10.75 billion) in Germany to expand cloud services and retail goods.
Majority of the investment, 8.8 billion euros, will be allocated to expanding Amazon Web Services (AWS) cloud infrastructure.
Investment expected to create over 4,000 new jobs in Germany.
Source: REUTERS