Amazon's $150 Billion Investment in Data Centers for AI Boom

Amazon.com Inc. plans to make a significant investment of nearly $150 billion over the next 15 years to expand its data centers. This substantial investment is aimed at preparing for the anticipated surge in demand for artificial intelligence applications and other digital services. With this move, Amazon is aiming to strengthen its dominance in the cloud services market, where it currently holds double the share of its closest competitor, Microsoft Corp. The company's aggressive spending comes as a strategic response to the slowdown in sales growth at Amazon Web Services, primarily due to cost-cutting measures and postponed modernization projects by business customers. As the spending begins to pick up again, Amazon is ramping up efforts to secure land and electricity to support the power requirements of its data centers.