Amazon's Vital Revenue Driver AWS Weighs $6B Investment In Malaysia - Amazon.com (NASDAQ:AMZN)

Amazon.Com, Inc (NASDAQ:AMZN) cloud unit Amazon Web Services (AWS) divulged plans to launch an AWS infrastructure Region in Malaysia.
The new AWS Region will give developers, startups, entrepreneurs, enterprises, government, education, and nonprofit organizations an excellent choice for running their applications and serving end users from data centers in Malaysia.
AWS eyed a $6 billion investment or MYR 25.5 billion in Malaysia by 2037.
Also Read: Amazon's Biggest Revenue Driver AWS Falls Prey To Macro Slowdown
Prasad Kalyanaraman, vice president of Infrastructure Services at AWS, said, "We look forward to helping Malaysian institutions, startups, and companies deliver cloud-powered applications to fuel economic development across the country and to spur job creation, skills training, and educational opportunities in the communities surrounding our data centers."
The new AWS Region will have three Availability Zones at launch, adding to the existing 99 Availability Zones across 31 geographic regions globally.
AWS has plans to launch 15 more Availability Zones and five more AWS Regions in Canada, Israel, Malaysia, New Zealand, and Thailand.
The new AWS Region will enable customers with data residency preferences to store data securely in Malaysia, allow customers to achieve even lower latency, and serve the demand for cloud services across the Southeast.
Technavio estimates Malaysia's data center market will likely grow by $2.08 billion between 2021 - 2026 at 15.72% CAGR, backed by demand planning and expansion by hyperscalers.
Price Action: AMZN shares traded lower by 0.61% at $91.68 on the last check Thursday.
Photo by Tony Webster via Flickr

AMZNAmazon.com Inc

$236.18-0.76%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.