Amazon (AMZN) Plans to Invest $13B in Australia
E-commerce and cloud computing giant Amazon (AMZN) announced that it is planning to invest A$20 billion, or US$13 billion, in Australia from 2025 to 2029 in order to improve the AI infrastructure in the country. Interestingly, the firm highlighted that this will be the largest technology investment in Australia's history, which follows Amazon's recent announcement of a $20 billion investment to build two data centers in Pennsylvania.
Confident Investing Starts Here:
Amazon's $13 billion investment will be mainly directed towards enhancing Australia's cloud computing and AI capabilities. The company intends to expand, operate, and maintain its data center infrastructure in the country and accelerate AI adoption. The firm also announced that it will invest in three new solar farms in Victoria and Queensland in order to support its AI infrastructure expansion in Australia. Specifically, European Energy will deliver and operate the new projects, with Amazon agreeing to buy a combined capacity of more than 170 megawatts across the three solar farms.
It is worth noting that the company is already investing in eight solar and wind projects across New South Wales, Queensland, and Victoria to power its data centers and fulfillment centers. In addition, Amazon highlighted that its cloud computing unit, Amazon Web Services (AWS), has trained over 400,000 people in Australia since 2017 to develop digital skills and aims to support generative AI programs, such as AWS AI Spring Australia and AWS Generative AI Accelerator.
What Is the Price Target for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 46 Buys and one Hold recommendation. Furthermore, the average AMZN stock price target of $241.64 indicates about 11.6% upside potential from current levels.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
13 minutes ago
- Bloomberg
Thailand Kicks Off Tariff Negotiations With US After Delays
Thailand officially started trade negotiations with the US and plans to submit a final proposal to Washington within the week, aiming for a swift resolution to the tariff debacle after a string of delays. The working teams of both countries started trade negotiations virtually, Finance Minister Pichai Chunhavajira told reporters in Bangkok on Tuesday. 'After the talks, we will adjust our proposal and submit it officially within this week,' he said.
Yahoo
21 minutes ago
- Yahoo
When is Amazon Prime Day 2025? Date announcement, details about this year's massive 4-day sale, plus the best early deals you can already shop now
Mark your calendars — Amazon Prime Day is returning to Canada next month. For the first time, Prime Day 2025 will span four full days, doubling shoppers' chances to save big on thousands of must-have deals across fashion, beauty, home appliances, electronics and more. The extended sale will run from July 8 through July 11, 2025, bringing shoppers Prime members the longest Prime Day in Amazon history. To make the most of the mega-sale and learn insider Amazon Prime Day tips from our shopping experts, check out the details below. Amazon Prime Day 2025 will run from July 8 at 12:01 a.m. PST through July 11 at 11:59 p.m. PST. Leading up to the four-day sale, Canadians can already shop Amazon's early Prime Day deals — scroll below to check out some of the best ones. Prime Day is Amazon's biggest sale of the year, with deals offered exclusively for Amazon Prime members. The 2025 sale lasts four days and features both flash sales and limited-time savings. In previous years, Amazon has included deals on Apple devices, laptops, TVs, name-brand vacuums and more. While Amazon Prime Day 2025 doesn't kick off until July 8, you can already score tons of early Prime Day deals — some of which are at their lowest price ever (seriously!). From tech and small kitchen appliances to seasonal essentials, scroll down to check out the best of the best: Yes. Prime Day is a shopping event with thousands of deals exclusively for Prime members. However, that's not to say non-Prime members can't also score a deal. Amazon's Deals Store usually has sales available for both Prime and non-Prime members; however, discounts on name brands and high-end tech are usually reserved for those with a Prime subscription. New Prime members can test-drive Prime with a one-week trial for $0.99 before committing to a membership. Once your trial ends, memberships cost $99/year or $9.99/month for Canadian subscribers. Student discounts are also available. In addition to exclusive Amazon Prime Day 2025 deals, Prime members enjoy several year-round perks, including the following: Free same-day, one-day and two-day shipping Exclusive access to Prime Video original TV shows and movies Early access to Lightning Deals Stream or download hit movies and TV shows Free eBook and music downloads through Prime Music and Prime Reading Free games, a free Twitch channel subscription and more gaming benefits Free DashPass+ for one year (includes $0 delivery fees and lower service fees) Enjoy unlimited, full-resolution photo storage with Amazon Photos From July 8-11, you can expect to save on categories including electronics, home, beauty and fashion — and a lot more. More specifically, you can anticipate savings on big brands like Ninja, Philips, Shark and Levi's. But that's not all — you'll also see deals from Canadian brands and small business like Cetaphil, Three Ships, Good To Go, All Natural Advice and more. Here are some confirmed Amazon device deals you can look forward to: Save up to 61% on Blink Outdoor Security Systems Save up to 50% on Ring Battery Doorbells Save $100s on Amazon eero Pro 6E mesh wifi systems Save up to 77% on Amazon Echo Buds Save up to 26% on select Kindles Save up to 38% on Amazon Fire Tablets Save up to 54% on Amazon Fire TV Sticks It's crucial to beware of scams ahead of big sale days like Prime Day. From using price comparison tools to detecting fake reviews, we're here to help you out. To save time, avoid scams and score the best deals, click here for our must-read tips and tricks from last year.
Bloomberg
28 minutes ago
- Bloomberg
Amundi Is Betting on European and EM Assets to Avoid US Risks
Amundi SA is betting on Europe and emerging-markets and is bracing for even more volatility due to tax and trade edicts from the White House. Europe's largest asset manager said its stance is 'mildly pro-risk' and recommended investors consider hedging against inflation and foreign exchange swings. Amundi expects US economic growth to slow sharply to 1.6% in 2025-2026.
