Science & Technology

Amazon to Invest Another €10 Billion in Germany

Amazon has announced its intention to invest an additional 10 billion euros ($10.7 billion) in its cloud infrastructure and logistics network in Germany.

Amazon to Invest Another €10 Billion in Germany

In recent years, the activities of the mentioned company, which traditional area of operation is e-commerce, have significantly scaled up and covered other industries. Amazon, which, among other things, owns the best American delivery service, is also a major and significant player in the technology sector. The company has become the world’s largest provider of cloud computing and data storage services.

Amazon’s current plans call for investments of 8.8 billion euros by 2026 to build and maintain its infrastructure for the AWS cloud computing business in the Frankfurt region. The relevant information is contained in the company’s statement, which was published on Wednesday, June 19. This commitment complements plans to invest 7.8 billion euros to build a sovereign cloud business in Germany by 2040.

The announcement of the new funding was made during a meeting between Amazon’s Chief Executive Officer Andy Jassy and German Chancellor Olaf Scholz.

Last month, the company announced plans to invest 15.7 billion euros in Spain by 2033. Amazon also intends to send $1.2 billion in financing to France. Moreover, the company implements projects in Mexico, the United States, Singapore, and Saudi Arabia.

AWS has been facing increasing competition lately. Microsoft is currently mounting its global expansion. Nowadays, the cloud computing area is committed to increasing data processing and storage capabilities to meet relevant needs that demonstrate rapid growth amid the active development and spread of artificial intelligence.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.