Amazon has announced plans to invest 10 billion euros ($10.75 billion) in Germany, Europe’s largest economy, to expand its cloud services and retail goods offerings. The majority of the investment, 8.8 billion euros, will be used to expand the cloud infrastructure of Amazon Web Services (AWS) by 2026.
AWS sees significant potential for growth in Artificial Intelligence (AI)-driven technologies in Europe and is investing heavily to meet this demand. German Chancellor Olaf Scholz welcomed the investment, stating that it will create over 4,000 jobs this year and highlights Germany’s attractiveness to investors.
The investment is a significant boost to the German economy, which is currently experiencing an economic downturn due to high energy costs and interest rates, as well as under-investment caused by bureaucratic red tape. Amazon’s investment in Germany is part of its larger strategy to expand its cloud services and retail goods offerings across Europe.
The company has seen significant growth in demand for its cloud services, particularly in the area of AI-driven technologies, and is investing heavily to meet this demand. The expansion of AWS in Germany will provide businesses and individuals with access to cutting-edge cloud infrastructure and AI technologies, driving innovation and economic growth.
Amazon’s investment in Germany also highlights the country’s attractiveness to international investors, despite the current economic challenges. The total amount of Amazon’s planned investments in Germany now stands at 17.8 billion euros, making it one of the largest foreign investors in the country.
