Big technology companies are stepping up their investments in India, with new promises from Amazon.com and Microsoft expected to inject more than US$50 billion into the South Asian country. This year, India has attracted tens of billions of dollars from big technology companies highlighting its appeal as a hub for artificial intelligence and cloud.
This Wednesday, the 10th, Amazon announced that it will invest US$35 billion in its business in the country over a period of five years, shortly after Microsoft announced a spending plan of US$17.5 billion in the country over the next four years.
Microsoft said on Tuesday (9) that the new investment focused on developing India’s cloud and AI infrastructure is the largest yet in Asia. This is in addition to the $3 billion the company said it will spend in the country earlier this year, and comes after Microsoft CEO Satya Nadella met with Indian Prime Minister Narendra Modi, who also met with other technology leaders, including the CEOs of Intel and Cognizant.
Intel CEO Lip-Bu Tan said in a post on
India established the initiative earlier this year with an initial investment of around $10 billion, aiming to reduce dependence on imported chips and establish a self-reliant manufacturing ecosystem. Source: Dow Jones Newswires*.
*Content translated with the help of Artificial Intelligence, reviewed and edited by the Editorial Team BroadcastGrupo Estado’s real-time news system.
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