Amazon said in a statement that it will double investment in the city-state to meet growing demand for cloud, or remote data storage, and to bolster its artificial intelligence business.
Amazon Web Services (AWS) “will double its investment in cloud computing infrastructure in Singapore from 2024 to 2028 to meet customer demand and help reinforce Singapore's status as an attractive regional launchpad for innovation,” the company added in the same statement.
Founded by Jeff Bezos, Amazon announced last week that revenue and net profit had grown beyond market expectations in the first quarter, due in particular to its cloud arm, AWS, which is capitalizing on companies' appetite for remote computing and artificial intelligence (AI) services.
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