🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Amazon continues US tech investment trend in South-East Asia

Published 07/05/2024, 11:35
Updated 07/05/2024, 12:10
© Reuters.  Amazon continues US tech investment trend in South-East Asia
MSFT
-
AAPL
-
AMZN
-
NVDA
-

Proactive Investors - Amazon.com Inc (NASDAQ:AMZN) is the latest US tech giant to announce plans to strengthen its position in South-East Asia, announcing a $9 billion investment in Singapore to expand its cloud infrastructure business.

This comes after last year saw multibillion-dollar cloud investments for Amazon Web Services (AWS) announced for Malaysia and Thailand.

“AWS is doubling down on its cloud infrastructure investments in Singapore from 2024 to 2028 to support customer demand, and help reinforce Singapore’s status as an attractive regional innovation launchpad,” AWS country manager Priscilla Chong said at the AWS ASEAN Summit on Tuesday.

The wider move by US tech titans in recent weeks has seen Microsoft (NASDAQ:MSFT) unveil major investments in AI and cloud services in Malaysia, Thailand, and Indonesia, while the CEOs of Nvidia (NASDAQ:NVDA) and Apple (NASDAQ:AAPL) recently visited South-East Asia in what were seen as tours to strengthen industrial ties.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.