Latest news with #AWSAISpringAustralia
Business Insider
10 hours ago
- Business
- Business Insider
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.
Yahoo
a day ago
- Business
- Yahoo
Amazon commits A$20bn to expand Australian data centres by 2029
Amazon has unveiled a A$20bn ($13.02bn) investment plan for 2025 to 2029, aimed at expanding its data centre infrastructure in Australia. This initiative is intended to meet the rising demand for cloud computing and AI in the country. The investment will enhance AI capabilities and drive the modernisation of Australian organisations, aligning with the government's goal of boosting productivity and economic growth through AI innovation. It will benefit several Amazon Web Services (AWS) customers and partners by providing advanced cloud and AI tools while ensuring compliance with local data residency and regulatory requirements. The Australian Government's Department of Industry, Science and Resources projects that AI and automation could add up to A$600bn to Australia's GDP annually by 2030. Australia Prime Minister Anthony Albanese said: 'I am pleased to join Matt Garman to announce AWS's investment of A$20bn over five years to further develop and expand its data centers in Sydney and Melbourne.' The investment coincides with the launch of AWS AI Spring Australia, a series of programmes aimed at accelerating AI adoption nationwide. Key initiatives include the AWS Generative AI Accelerator for early-stage startups and the AWS AI Launchpad to support enterprises in adopting AI technologies. In 2023, AWS expanded its footprint by opening the AWS Asia Pacific (Melbourne) Region and introducing Australia's first AWS Local Zones in Perth. The launch of Amazon Bedrock, a fully managed generative AI service, in April 2024, and a partnership with the Australian Government to develop a "Top Secret" AWS Cloud for national security in July 2024. AWS has been present in Australia since 2012, starting with the launch of the AWS Asia Pacific (Sydney) Region. AWS CEO Matt Garman said: 'This planned investment deepens our long-term commitment to supporting the growth and development of Australian organisations of all sizes and helping them harness the enormous opportunity that generative AI offers.' To support its expanded infrastructure, Amazon is investing in three new solar farms in Victoria and Queensland, operated by European Energy, purchasing over 170MW of capacity. This complements its existing support for eight solar and wind projects across New South Wales, Queensland, and Victoria, which power its data and fulfilment centres. Recently, Amazon announced an investment of $10bn in North Carolina to expand its data centre infrastructure, supporting AI and cloud computing advancements. "Amazon commits A$20bn to expand Australian data centres by 2029" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
