Amazon Web Services Invests $1 Billion to Address Data Center Backlash

Key Stats for Amazon Stock

• Price change for Amazon stock in last 6 months: 18%

• $AMZN Stock Price as of Oct. 2: $252

• 52-Week High: $287

• $AMZN Stock Price Target: $331

What Happened?

Amazon (AMZN:NASDAQ) said its cloud unit will invest more than $1 billion over the next five years. The money will go to US communities that host its data centers. Amazon Web Services made the announcement on Friday.

The plan covers education, job training, and energy affordability. It also covers water and energy preservation.

AWS also promised to tackle the impact of its data centers on electricity and water use.

The move makes sense. Data centers power and run AI models. But communities across the US have pushed back.

They worry about…