Amazon's AI Push: Invests $10B In North Carolina Data Centers
In an effort to keep the train rolling on its recent AI-driven initiatives, Amazon (AMZN) is investing $10 billion into new data centers in North Carolina. The investment in North Carolina will create 500 jobs in the state. “Generative AI is driving increased demand for advanced cloud infrastructure and compute power, and our investment will support the future of AI from AWS data centers in the Tar Heel State,” the company wrote in a blog post. Amazon has already set aside up to $100 billion this year on capital expenditures, with the majority of the shares going to AI-related projects. The e-commerce juggernaut has become one of the premier stocks of the Magnificent 7. Not only has its core business continued to thrive, but it has firmly embraced its position as one of the most diversified tech companies in the world. A part of that diversification, as of late, is in artificial intelligence. Also Read: Amazon (AMZN): Bank of America Boosts Target For Two Key Reasons According to Bank ...