Amazon to invest €16 bn in Germany
AgenciesUS tech giant Amazon on Tuesday announced plans to invest over €16 billion ($18 billion) in Germany next year, including on data centers and other infrastructure underpinni...
Amazon, the US tech giant, is set to invest over €16 billion ($18 billion) in Germany next year, according to a plan announced at a business summit in Berlin. The significant investment will primarily focus on data centers and infrastructure supporting the artificial intelligence revolution. This news comes as a welcome boost for Germany's struggling economy, which is actively seeking new investments, particularly in high-tech sectors.
David Zapolsky, Amazon's chief global affairs and legal officer, emphasized that Germany is a hub of innovation and one of the most attractive investment opportunities in Europe. Amazon has already invested over €100 billion in Germany since 2010, further solidifying its commitment to the country.
Economy Minister Katherina Reiche highlighted that Amazon's investments will strengthen Germany's position in international technology competition, creating value and jobs in the process. Almost five billion euros of the total investment will be dedicated to expanding Amazon Web Services operations in Frankfurt, as demand for AI services continues to grow. Some investments will also focus on Amazon Leo, a venture aimed at providing high-speed internet via a network of satellites.
The investment is set to benefit various aspects of Amazon's operations in Germany. The company's warehouses will be upgraded, including the incorporation of more robotics, while Amazon Prime plans to film a slate of new productions in the country.
The investment summit, which concluded on Tuesday, brought together more than 200 corporate leaders from Germany and abroad. The German government is actively seeking to attract more companies to expand their operations and help revive the stagnating economy. Despite frequent complaints about bureaucratic hurdles, high energy costs, and a shortage of skilled labor, Chancellor Friedrich Merz expressed his coalition's commitment to driving through ambitious reforms. Key aims include tax relief, cutting bureaucracy, and strengthening financial markets.
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