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Amazon has announced that it will invest 10 billion euros ($10.75 billion) in response to the increasing demand for its cloud services and retail products in Europe's largest economy.
The majority of this investment, 8.8 billion euros, will be allocated by 2026 to expand the cloud infrastructure of its computing unit Amazon Web Service (AWS), with a focus on the growing potential of Artificial Intelligence (AI)-driven technologies in Europe.
German Chancellor Olaf Scholz has praised the investment, noting that it will lead to the creation of over 4,000 jobs this year and highlighting the country's appeal to investors.
This announcement brings Amazon's total planned investments in Germany to 17.8 billion euros. Additionally, AWS is also considering significant investments in the expansion of its data centers in Italy.
