(RTTNews) - Amazon Web Services, Inc., a subsidiary of Amazon.com, Inc. (AMZN) that provides on-demand cloud computing platforms plans to invest at least $5 billion in South Korea by 2031 to build new artificial intelligence data centres, according to multiple reports citing South Korea's presidential office.
The announcement was made during AWS chief executive officer Matt Garman's meeting with South Korean President Lee Jae Myung on the sidelines of the Asia-Pacific Economic Cooperation summit.
Amazon is one of the seven global firms whose executives attended the group meeting with Lee in Gyeongju, South Korea, and pledged a total of $9 billion in investments for the next five years.
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