(Bloomberg) — Amazon.com Inc. said it would invest €15.7 billion ($17 billion) in Spain to expand its cloud business in Europe, the biggest outlay Amazon has announced so far on the continent, adding to a string of investment commitments around the world in recent weeks from the company and its rivals in the cloud.
Most Read from Bloomberg
Amazon Web Services said in the statement on Wednesday that it will make the investment through 2033, and that the plan is an upgrade to a 2021 commitment to spend €2.5 billion in the country.
Read More: Why Artificial Intelligence Is So Costly to Develop: QuickTake
Amazon has laid out tens of billions of dollars for expanding AWS globally, announcing similar long-term projects in Germany, Mexico, the US, Saudi Arabia and Singapore this year. AWS, the world’s largest provider of cloud computing services and data storage via massive server farms, is facing increasing competition from rivals like Microsoft Corp., which is mounting its own global expansion.
In addition to providing cloud services to corporate customers, Amazon’s data centers are a key piece of infrastructure to enable the next generation of artificial intelligence tools that require more computing power and longer training times.
Amazon also said it would invest €7.8 billion in German data centers through 2040 and French President Emmanuel Macron’s office said Amazon committed to spending €1.2 billion on infrastructure and computing earlier this month.
Most Read from Bloomberg Businessweek
©2024 Bloomberg L.P.
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel
