Amazon's Cloud Business to Invest More Than $12 Billion in India by 2030
By Ben Otto
Amazon.com's cloud-computing business plans to spend 1.056 trillion Indian rupees (US$12.81 billion) to expand its data-center infrastructure in India by 2030, part of long-term efforts to boost the global reach of its cloud services.
Amazon Web Services, the Seattle-based tech giant's cloud-computing arm, said Thursday that the move would support about 131,700 full-time jobs in India's data-center supply chain annually.
The move comes after AWS's investment of about INR309 billion in the world's most populous nation from 2016 to 2022, used in part to launch two data-center infrastructure regions in Mumbai and Hyderabad that allow customers to securely store data in India and run workloads with low latency.
AWS said it has hundreds of thousands of customers in India, including government entities such as the Ministry of Electronics and Information Technology, large companies including Axis Bank and HDFC Life, and others in public, private and nonprofit sectors.
AWS is the largest cloud-computing provider in the U.S., providing services that allow customers, including many large businesses, to rent computing, storage and network capabilities.
The company has been expanding its overseas footprint, including other regions of Asia. In October, it unveiled plans to invest more than $5 billion in Thailand over 15 years, and in March it said it would invest $6 billion in nearby Malaysia over roughly the same span.
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
May 18, 2023 00:09 ET (04:09 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
Will Earnings From These 10 AI Stocks Live Up to the Hype?
-
What’s Happening In the Markets This Week
-
What the Next Bitcoin Halving Means for ETF Investors
-
Going Into Earnings, Is Microsoft a Buy, a Sell, or Fairly Valued?
-
10 Best Blue-Chip Stocks to Buy for the Long Term
-
After Earnings, Is Netflix Stock a Buy, a Sell, or Fairly Valued?
-
ServiceNow Earnings: Strong Quarter With In-Line Guidance and Increasingly Attractive Valuation
-
Ford Earnings: Pro Continues to Impress While EV Costs Are Contained
-
Boeing Earnings: Paying for Mistakes Made Long Ago, Taking Back the Factory Floor
-
Meta Earnings: Stock Now Fairly Valued After Latest Selloff
-
March PCE Inflation Index Forecasts Show Mixed Readings On Price Pressures
-
After Earnings, Is Charles Schwab Stock a Buy, a Sell, or Fairly Valued?