Amazon’s $5 Billion Play
Amazon commands attention with a $5 billion financial move, spotlighted against a backdrop of market momentum and corporate ambition.

Amazon Unit Plans $5 Billion Investment in South Korea, Presidential Office Announces

TECHi's Author Dr Layloma Rashid
Opposing Author Reuters Read Source Article
Last Updated
TECHi's Take
Dr Layloma Rashid
Dr Layloma Rashid
  • Words 521
  • Estimated Read 3 min

Amazon Web Services (AWS), part of Amazon, said it would put at least $5 billion into South Korea by 2031 for new AI data centers. This came out at a talk between AWS head Matt Garman and South Korean leader Lee Jae Myung at the Asia-Pacific Economic Cooperation (APEC) meeting in Gyeongju. This cash boost is a big move for South Korea to become a top AI spot in Asia.

The president’s team mentioned Amazon is among seven big global companies promising a total of $9 billion in the country over five years. AWS’s investment will grow its worldwide data network and help South Korea’s digital world and AI scene grow. President Lee liked the idea, saying it would speed up a strong artificial intelligence setup and make South Korea a top AI innovator.

AWS wants to put the new data centers near Seoul, showing it cares more about South Korea. This comes after AWS’s prior $4 billion plan shared in June with SK Group to make the biggest data center in Ulsan. These plans show Amazon’s wider dream to grow AI and cloud skills in Asia and to support local governments in building modern digital setups.

Matt Garman showed AWS’s big plan at a talk, sharing that the firm has put in and plans to put in $40 billion more in 14 APEC countries, not in the U.S., from now to 2028. As per Garman, this cash should add $45 billion to the U.S. GDP and help the Asia-Pacific area’s money picture a lot more too. This move paints AWS not only as a helper but also as a big money mover in making the world’s AI and data space.

For South Korea, when this cash shows up is a big deal. The land has pushed hard for its AI and chip fields to pull in tech giants from all over. Not long ago, South Korea’s leader team told of deals with OpenAI, which wants to team up with Samsung and SK Group to make two massive data centers that can hold 20 megawatts at first. OpenAI’s eye on South Korea comes as the land is second in the world for folks who pay for ChatGPT, after the U.S.

Plus, OpenAI has made early deals to grab memory chips for its data spots from Samsung Electronics and SK Hynix. This shows how AI firms all over need South Korea’s strong chip game to run their next-level data stuff. All the AWS and OpenAI plans put together should give South Korea’s AI powers a cool lift, pushing new ideas, making jobs, and pulling in even more cash from other lands.

Amazon’s huge $5 billion pledge feels like more than just money. It’s like a secret handshake with South Korea’s dream to become a digital and AI boss. It also helps AWS spread its wings all over Asia. Folks there are super eager for cloud stuff and crazy innovative AI systems. As our planet dives headfirst into the age of AI, teamwork like this will totally mold how tech and world trade work later.

Reuters

Reuters

  • Words 38
  • Estimated Read 1 min
  • Published
Read Article

Amazon Web Services will invest at least $5 billion in South Korea by 2031 to build new artificial intelligence data centres, South Korea’s presidential office said on Wednesday, leveraging Seoul’s ambition to become an AI hub in Asia.

Source

NOTE: TECHi Two-Takes are the stories we have chosen from the web along with a little bit of our opinion in a paragraph. Please check the original story in the Source Button below.

Balanced Perspective

TECHi weighs both sides before reaching a conclusion.

TECHi’s editorial take above outlines the reasoning that supports this position.

More Two Takes from Reuters

Pentagon to Add Alibaba Baidu BYD to China Military List Impact on Business and Markets
Pentagon to Add Alibaba Baidu BYD to China Military List Impact on Business and Markets

The Pentagon plans to add Alibaba, Baidu, and BYD to its list of Chinese companies linked to the military.  This…

Nvidia Fights Back Against Critics on $4.5 Trillion Valuation
Nvidia Fights Back Against Critics on $4.5 Trillion Valuation

Nvidia is pushing hard against doubters like Michael Burry, the Big Short star, who question its sky-high value.  The company…

FAA Probes Amazon After Prime Air Drone Cuts Internet Cable in Texas
FAA Probes Amazon After Prime Air Drone Cuts Internet Cable in Texas

Amazon is currently under investigation by the U.S. Federal Aviation Administration (FAA) following an incident where one of its delivery…

Starlink’s Direct-to-cell Service Launches in Ukraine in European First
Starlink’s Direct-to-cell Service Launches in Ukraine in European First

The launch of Starlink’s direct-to-cell service in Ukraine indicates a moment when technology goes beyond mere convenience, it becomes a…