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Amazon Invests $11 Billion to Expand Cloud and Logistics in Germany

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
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Amazon Invests $11 Billion to Expand Cloud and Logistics in Germany

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)

Amazon will invest 10 billion euros ($10.75 billion) as demand for its cloud services and retail goods in Europe's biggest economy keeps growing, the US technology and retail company said on Wednesday.

The greater part of the sum, 8.8 billion euros, will be spent by 2026 to expand the cloud infrastructure of its computing unit Amazon Web Service (AWS), as it sees rising potential in Artificial Intelligence (AI)-driven technologies in Europe, Reuters reported.

German Chancellor Olaf Scholz praised the investment that would create more than 4,000 jobs this year by saying it underlines the country's attractiveness for investors.

Berlin is dealing with an economic downturn triggered by high energy costs and interest rates, as well as under-investment due in part to red tape.

The announcement brings the total amount of Amazon's planned investments in Germany to 17.8 billion euros.

AWS was considering multi-billion investments in the expansion of its data centres in Italy, Reuters reported in May.

 

 

 

 

 

 

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Nvidia Insiders Sold over $1 billion in Stock amid Market Surge, FT Reports

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
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Nvidia Insiders Sold over $1 billion in Stock amid Market Surge, FT Reports

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration

Nvidia insiders sold over $1 billion worth of company stock in the past year, with a notable uptick in recent trading activity as executives capitalize on surging investor interest in artificial intelligence, the Financial Times reported on Sunday.

More than $500 million of the share sales took place this month as the California-based chip designer's share price climbed to an all-time high, the report said, according to Reuters.

Jensen Huang, Nvidia's chief executive, started selling shares this week for the first time since September, the SEC filing showed.

Nvidia's stock hit a record on Wednesday, and the chipmaker reclaimed the crown as the world's most valuable company after an analyst said the chipmaker was set to ride a "Golden Wave" of artificial intelligence.

Its latest gains reflect the US stock market's return to the "AI trade" that fueled massive gains in chip stocks and related technology companies in recent years on optimism about the emerging technology.

Nvidia declined to comment on the FT report.

Reuters could not immediately confirm the report.

Nvidia's shares have rebounded over 60% from their closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. US stocks, including Nvidia, have recovered on expectations the White House will reach trade deals to soften the tariffs.