Amazon’s cloud computing division, AWS, has announced a massive investment of 15.7 billion euros ($17 billion) in data centers in the Aragon region of northeastern Spain. This investment is set to create around 17,500 indirect jobs in local companies and contribute 21.6 billion euros to Spain’s gross domestic product by 2033. According to Amazon, this move highlights the attractiveness of Spain as a strategic technological center in southern Europe.
The Spanish Minister of Digital Transformation, José Luis Escrivá, mentioned that this new investment by AWS underscores the country’s appeal as a hub for technology. The president of the regional government of Aragon, Jorge Azcón, also expressed his excitement, calling it the largest economic investment in the history of the region.
As a pioneer in e-commerce, Amazon’s AWS currently holds a dominant position in the cloud computing market with a 31 percent share as of the end of 2023. However, competitors like Microsoft and Google are gaining ground, with market shares of 24 percent and 11 percent, respectively. The competition in the cloud computing sector has intensified with the introduction of artificial intelligence services like ChatGPT-style AI, which cloud companies offer to their customers.
Overall, Amazon’s substantial investment in data centers in Spain is expected to have a significant impact on the local economy and position the country as a key player in the global technology landscape. This move also reflects the growing competition within the cloud computing industry, with companies vying for market share and technological advancements to stay ahead of the curve.
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https://www.barrons.com/news/amazon-says-to-invest-15-7-bn-euros-in-spain-b5da8e57