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Amazon invests €8.4 million in Singapore
US e-commerce giant Amazon announced today an investment of 8.4 billion euros over the next four years in Singapore to expand its cloud computing capabilities.
© ANDREW CABALLERO-REYNOLDS/AFP via Getty Images
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Amazon said in a statement that it will double its investment in the city-state to meet the growing demand for cloud, or remote data storage, and to bolster its artificial intelligence business.
Amazon Web Services (AWS) “will double its investment in cloud computing infrastructure in Singapore from 2024 to 2028 to meet customer demand and help strengthen Singapore’s position as an attractive regional launchpad for innovation,” the company added in the same statement.
Founded by Jeff Bezos, Amazon last week reported that its revenue and net income grew past market expectations in the first quarter, driven in particular by its cloud arm, AWS, which is capitalizing on businesses’ appetite for remote computing and artificial intelligence (AI) services.
Read Also: Amazon reports 13% increase in revenue and more than triple in profits (Portuguese version)
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