Amazon, the US technology and retail company, said it will invest 10 billion euros ($10.75 billion) in Germany as demand for its cloud services and retail goods in Europe’s biggest economy keeps growing.
Amazon will spend 8.8 billion euros by 2026 to expand the cloud infrastructure of its computing unit Amazon Web Service (AWS). Amazon aims to tap the rising potential in Artificial Intelligence (AI)-driven technologies in Europe.
German Chancellor Olaf Scholz praised the investment that would create more than 4,000 jobs this year by saying it underlines the country’s attractiveness for investors.
Today’s announcement brings the total amount of Amazon’s planned investments in Germany to 17.8 billion euros.
AWS is also considering multi-billion investments in the expansion of its data centres in Italy, Reuters news report said in May.
