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March 28, 2024 02:41 pm

Amazon Bets $150 Billion on Data Centers Required for AI Boom

Amazon plans to spend almost $150 billion in the coming 15 years on data centers, giving the cloud-computing giant the firepower to handle an expected explosion in demand for artificial intelligence applications and other digital services. From a report: The spending spree is a show of force as the company looks to maintain its grip on the cloud services market, where it holds about twice the share of No. 2 player Microsoft. Sales growth at Amazon Web Services slowed to a record low last year as business customers cut costs and delayed modernization projects. Now spending is starting to pick up again, and Amazon is keen to secure land and electricity for its power-hungry facilities. "We're expanding capacity quite significantly," said Kevin Miller, an AWS vice president who oversees the company's data centers. "I think that just gives us the ability to get closer to customers." Over the past two years, according to a Bloomberg tally, Amazon has committed to spending $148 billion to build and operate data centers around the world. The company plans to expand existing server farm hubs in northern Virginia and Oregon as well as push into new precincts, including Mississippi, Saudi Arabia and Malaysia.

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