Market Overview

Google To Invest $2B In Polish Data Center

Google To Invest $2B In Polish Data Center

Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOGL) subsidiary Google LLC is investing up to $2 billion at a data center in Poland, local media reports have said, according to Reuters.

What Happened

"Region Google Cloud in Warsaw is the biggest investment in infrastructure of this type in Poland," local daily Puls Biznesu quoted Google Cloud's Business Development Director in Poland and Central and Eastern Europe, Magdalena Dziewguc, according to Reuters.

Dziewguc added that the data center, meant to deal with the search engine giant's cloud services, is expected to become operational at the beginning of 2021.

The move comes a month after Microsoft Corporation (NASDAQ: MSFT) announced a $1 billion investment for a data center in the Eastern European country as well.

Both Google and Microsoft have also been exploring data centers in other regions, including Southeast Asia, as demand for cloud services skyrocket, especially since the novel coronavirus (COVID-19) pandemic.

Price Action

Alphabet Class A and Class C shares both closed about 0.9% higher at $1,463.98 and at $1,458.87 on Tuesday.

Class A shares were unchanged in the after-hours session, and Class C shares dipped nearly 0.4% at $1,458.87.


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