Amazon’s AWS All Set to Invest 1.2 Billion Euros in Italy Data Center Business
Amazon Web Services (AWS) is planning to invest 1.2 billion Euros [or 1.3 billion USD] to boost its Italy data center business to enhance its cloud services over the next Five years.
This step is part of tech giant Amazon’s effort to boost its cloud business in Europe under which AWS launched its first cloud region in Italy in 2020 with the aim to invest 2 billion Euros by 2029.
Few months ago, Reuters in a news article confirmed about Amazon’s plan in investing Europe, the article says:
“Amazon computing unit AWS is in talks with Italy to invest billions of euros in the expansion of its data center business in the country as part of the tech giant’s effort to boost its cloud offer in Europe, four people familiar with the matter said. Discussions between parties over the size and the location of the investment are ongoing, according to the sources, with one of them saying Amazon Web Service (AWS) is considering expanding its current site in Milan or building a new one.”
Expected Result from AWS Investment in Italy
A company spokesperson told Seeking Alpha, “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. 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.”
Other Tech Giants’ Investment in Italy
Alphabet’s deal to supply cloud services to Italy’s biggest bank Intesa Sanpaolo in 2020 has invested 1 billion Euros to set up two cloud regions for Intesa Sanpaolo. Apart from this, Microsoft, announced in 2020, to launch its first cloud region in Italy as a part of Microsoft 1.5 billion USD investment plan.
