Amazon (AMZN) to Invest $20M To Expand AWS Cloud Efforts
To keep the train rolling on its recent AI-driven initiatives, Amazon (AMZN) is investing $20 billion into new data centers in Pennsylvania. In recent weeks, the company has pledged to aggressively expand its data center footprint. Already last week, it pledged $10B to invest in new data centers in North Carolina. “Generative AI is driving increased demand for advanced cloud infrastructure and compute power…” Amazon wrote last week in an announcement. The company also announced plans to invest more than $5 billion in its new cloud infrastructure in Taiwan. Amazon has already set aside up to $100 billion this year on capital expenditures, with the majority of the shares going to AI-related projects. The e-commerce juggernaut has become one of the premier stocks of the Magnificent 7. Not only has its core business continued to thrive, but it has firmly embraced its position as one of the most diversified tech companies in the world. A part of that diversification, as of ...