Amazon to Invest $8.44 Billion in German Cloud Infrastructure
By Helena Smolak
Amazon.com plans to invest 7.8 billion euros ($8.44 billion) through 2040 to expand its cloud services in Germany, setting up independent cloud infrastructure that will allow customers in Europe to meet tough operational and data-residency requirements.
Amazon Web Services, the U.S. tech giant's cloud-computing arm, said Wednesday that the first launch of its AWS European Sovereign Cloud project would take place in the German state of Brandenburg by the end of 2025.
Amazon laid out plans for an independent sovereign cloud in Europe last year, saying the project would help public sector organizations and customers in highly regulated industries to navigate evolving requirements for data sovereignty.
Amazon's investment is expected to add some 2,800 full-time jobs in local German businesses each year as part of the AWS data center supply chain, the company said. AWS said it aims to create new jobs to build and operate the AWS European Sovereign Cloud, including software engineers, systems developers and solutions architects.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
May 15, 2024 12:04 ET (16:04 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now