Amazon Web Services, the cloud computing arm of Amazon (AMZN, Financials), plans to invest $8.2 billion in India's Maharashtra state over the next few years, according to a Reuters report.
The investment is intended to enhance AWS's infrastructure in one of the fastest-growing cloud markets worldwide, the report said.
Data from International Data Corporation shows India's cloud services market valued at $8.3 billion in 2023 and expected to reach $24.2 billion by 2028, according to the report. The investment fits AWS's more general plan to increase its presence in India, where demand for cloud computing is growing.
With money scheduled to be used by 20292030, the Indian Minister of Electronics and Information Technology, Ashwini Vaishnaw, claimed the project will help to generate a notable job increase. The money will help to bring innovative cloud management systems, graphics processing units, and other fresh technology into use.
Amazon maintains two data centers in Indiaone in Mumbai, inaugurated in 2016, and another in Hyderabad, which opened in 2022. The additional money will expand AWS's regional reach.
The most recent financing aligns with Amazon's larger economic commitment to India. The corporation revealed an extra $2 billion investment in 2023 to grow its e-commerce operation domestically.
This article first appeared on GuruFocus.免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。