Amazon AWS to Invest in Italy

MILAN (Reuters) – Amazon (NASDAQ:AMZN)'s cloud computing unit, AWS, announced plans to invest 1.2 billion euros ($1.3 billion) in Italy over the next five years to expand its data centre business.

This investment is part of AWS's strategy to enhance its cloud services in Europe, following the launch of its first cloud region in Italy in 2020, with a prospect to invest 2 billion euros by 2029.

The investment is projected to support up to 5,500 jobs across the AWS data centre supply chain through 2029, including roles in construction, facility maintenance, engineering, telecommunications, and positions within the local economy.

Earlier reports suggested that AWS was negotiating with Rome to significantly invest in its operations in Italy.

AWS's client roster includes major companies like Ferrari (NYSE:RACE) and Assicurazioni Generali (BIT:GASI), as noted on its official website.

According to Italian daily, Il Sole 24 Ore, AWS is expected to expand its operations in Milan. In addition to the Italian investment, in May, the company revealed a 15.7 billion euros investment plan for data centres in Spain's Aragon region and plans to invest 7.8 billion euros in Germany by 2040.

($1 = 0.9292 euros)

(Reporting Sara Rossi, editing by Keith Weir)