Amazon Partners with PPC to Build 300MW Data Center in Greece
AMZN sits 28% above its 52-week low of $196.
Summary
Amazon's AWS unit has signed a mutual principle agreement with Greece's largest power utility, PPC, to develop a data center in Western Macedonia. PPC will provide the site, buildings, and energy infrastructure, while AWS installs and operates the IT infrastructure. The facility will have an initial power capacity of 300 megawatts, scalable to 1 gigawatt, and Amazon will lease it for 15 years once construction is completed. The project represents a €2.3 billion ($2.64 billion) investment by PPC, one of the largest in Europe. This expands Amazon's global data center footprint and aligns with its massive AI infrastructure spending, following the $200 billion commitment announced in July.
At the time of this announcement, AMZN was trading at $250.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.7T. The 52-week trading range was $196.00 to $287.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.