Amazon, the American technology and retail giant, has announced plans to invest 10 billion euros ($10.75 billion) in Germany to meet the increasing demand for its cloud services and retail products. The majority of the investment, 8.8 billion euros, will be allocated to Amazon Web Services (AWS) to enhance its cloud infrastructure by 2026, particularly focusing on AI-driven technologies. This move is expected to create over 4,000 new jobs in the country, a development welcomed by Germany’s chancellor, Olaf Scholz, who sees it as a positive sign of foreign investment and job creation in the midst of economic challenges.
The investment is seen as a boost to Germany’s economy, which has been facing a slowdown due to various factors such as high energy and interest rates, as well as bureaucratic hurdles hindering sufficient investment. With this new commitment, Amazon’s total planned investments in Germany have now reached 17.8 billion euros. In addition to its investments in Germany, AWS is also considering expanding its data centers in Italy, further expanding its presence in Europe.
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https://cionews.co.in/amazon-spends-11-bn-to-increase-cloud-and-logistics/
