Exclusive Financial Advice - Financial strategies from celebrities
Amazon's new plans include €8.8 billion to build and maintain cloud infrastructure for its
AWS cloud computing business in Frankfurt by 2026, the company said in a statement. This
commitment complements the company's plans to spend €7.8 billion by 2040 to create a
sovereign cloud business in the country.
Amazon also said last month it would invest €15.7 billion in Spain by 2033 and €1.2 billion
in infrastructure and computing in France. And this is in addition to projects in Mexico,
the USA, Saudi Arabia and Singapore.
AWS faces growing competition, including from Microsoft Corporation, which is expanding its
global expansion as the industry seeks to increase processing and storage capacity to meet
the growing computing needs caused by the boom in artificial intelligence applications.
European regulators have been pushing cloud companies to keep their data on-premises to
address privacy and security concerns. Amazon's announcement in May was about the cost of
creating a European sovereign cloud that would be controlled solely by people inside the
European Union.