- Alphabet Inc GOOG GOOGL Google looks to set up an African cloud service as part of its $1 billion investment plan for the continent enabling users to store their data in the country.
- Google intensified competition with Microsoft Corp MSFT and Amazon.com Inc AMZN Amazon Web Services in Africa's most developed economy by the move.
- Google-based the cloud infrastructure in South Africa, but users will have the option of where to store their data, Bloomberg reports citing Google Cloud Africa director Niral Patel.
- South Africa will join Google Cloud’s global network of 35 cloud regions and 106 zones worldwide.
- Nigeria bars phone companies from sending government or customer information outside the country.
- Google estimates that the South African cloud region could contribute more than $2.1 billion to the country's economy and support the creation of more than 40,000 jobs by 2030.
- Google acknowledged building out its African subsea cable and cloud interconnect sites in four cities, Cape Town, Johannesburg, Lagos, and Nairobi, to provide complete cloud capability for the continent.
- In July, Microsoft rallied other big-name cloud-computing providers to urge the U.S. to spread its spending on such services widely.
- Microsoft targeted Amazon's dominance in such contracts by the move.
- Amazon dominated the cloud-infrastructure industry with a 39% share of the 2021 global market, ahead of Microsoft in the second position with a 21% share.
- Amazon's cloud had a 47% share of the 2021 U.S. and Canada public-sector market orders, ahead of 28% for Microsoft.
- Price Action: GOOG shares traded lower by 2.38% at $99.97 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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