Amazon to invest $1.3B in Italy to boost data center business
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- Amazon (NASDAQ:AMZN) Web Services will invest €1.2B, or $1.3B, in Italy over the next five years to boost its cloud infrastructure and services in the European country, the tech giant said.
- “The investment is estimated to contribute €880M to Italy’s Gross Domestic Product and support up to an estimated 5,500 jobs through 2029 across the AWS data center supply chain, ranging from construction, facility maintenance, engineering, telecommunications, and jobs within the broader local economy,” a company spokesperson told Seeking Alpha. “Since 2010, Amazon has devoted more than 20 billion euros to its Italian operations, becoming the largest job creator in the country over the period.”
- Earlier this year, it was reported that Amazon Web Services was in talks to invest in Italy with the Ministry of Industry, a source familiar with the matter told Seeking Alpha.
- Amazon shares were fractionally lower in premarket trading on Friday.