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Amazon.com Inc’s (NASDAQ:AMZN) Amazon Web Services (AWS) unveiled its plan to invest €7.8 billion in the AWS European Sovereign Cloud in Germany through 2040.
The initiative will commence with the launch of the first AWS Region in the State of Brandenburg, Germany, by the end of 2025, catering to all customers.
The long-term investment by AWS will foster productivity gains, drive digital transformation in businesses, strengthen the AWS Partner Network (APN), enhance the skills of the cloud and digital workforce, and foster renewable energy projects.
AWS’s extensive investment is forecasted to contribute €17.2 billion to Germany’s GDP by 2040.
Additionally, it is expected to sustain around 2,800 full-time equivalent jobs annually in local German businesses, spanning various sectors such as construction, engineering, telecommunications, and other ancillary roles within the local economy.
Also Read: Amazon Pours ~$1.3B Investment Into French Operations: Report
AWS will introduce new permanent positions to facilitate the establishment and operation of the AWS European Sovereign Cloud. These roles will encompass software engineers, systems developers, and solutions architects.
Crucially, AWS has pledged that all operational aspects of the AWS European Sovereign Cloud will be managed exclusively by personnel situated within the EU, ensuring compliance with regional regulations.
With a cumulative investment exceeding €150 billion in the EU since 2010, Amazon currently employs over 150,000 individuals in permanent roles within the European Single Market.
Jörg Steinbach, Brandenburg’s Minister of Economic Affairs, Labour and Energy said, “High performing, reliable, and secure infrastructure is the most important prerequisite for an increasingly digitalised economy and society. Brandenburg is making progress here. In recent years, we have set on a course to invest in modern and sustainable data centre infrastructure in our state, strengthening Brandenburg as a business location.”
The AWS European Sovereign Cloud represents a new independent cloud offering tailored for Europe, providing heightened control and choice for public sector organizations and customers in highly regulated industries.
Last week, AWS announced a collaboration with Telefonica Germany to migrate one million 5G customers to its cloud platform.
AMZN stock has gained more than 68% in the last 12 months. Investors can gain exposure to the stock via Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Vanguard Consumer Discretionary ETF (NYSE:VCR).
Price Action: AMZN shares are trading higher by 0.11% at $187.28 in premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Related Read: Microsoft’s €4B French AI Push: Tech Expansion Reportedly Intensifies
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