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Amazon announces $35 billion investment in India

Amazon announces $35 billion investment in India

Dec 10 (Reuters) - Amazon plans to invest more than $35 billion in India by 2030 to expand operations and strengthen its artificial intelligence capabilities, the U.S. e-commerce giant said on Wednesday, becoming the latest global tech firm to deepen its presence in the world's most populous country
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Amazon Commits $35 Billion to India's AI Sector by 2030

Amazon Commits $35 Billion to India's AI Sector by 2030

Amazon has announced a commitment to invest over $35 billion in India's cloud and artificial intelligence sectors by 2030. This investment is part of Amazon's strategy to capitalize on India's rapidly growing digital economy. The funds will be directed towards AI-driven digitization, export growth, and job creation, aligning with India's national priorities to enhance its local AI environment. The investment is expected to generate an additional 1 million jobs in India and quadruple exports to $80 billion. This move follows Amazon's previous investments of nearly $40 billion in the country and comes shortly after Microsoft's announcement of a $17.5 billion investment in India's AI infrastructure.
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Amazon Commits $35 Billion to Boost AI in India by 2030

Amazon Commits $35 Billion to Boost AI in India by 2030

Amazon has announced a substantial investment of over $35 billion in India's artificial intelligence (AI) and cloud infrastructure by 2030. This commitment was revealed at the Amazon Smbhav Summit in New Delhi and builds on the nearly $40 billion already invested in the country. The funds will focus on AI-driven digitization, export growth, and job creation, aligning with India's national priorities to enhance its local AI environment. By 2030, Amazon aims to generate an additional 1 million jobs in India, quadruple exports to $80 billion, and deliver AI benefits to 15 million small businesses. This move underscores Amazon's strategy to capitalize on India's growing digital economy.
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Amazon Commits $35 Billion to AI Development in India, Aiming for Economic Growth

Amazon Commits $35 Billion to AI Development in India, Aiming for Economic Growth

Amazon Commits $35 Billion to AI Development in India, Aiming for Economic Growth
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Asian shares are mixed after Fed cuts rates, pushing Wall Street near its record

Asian shares are mixed after Fed cuts rates, pushing Wall Street near its record

Asian shares are mixed after the U.S. stock market again approached its record high following the Federal Reserve’s cut in its main interest rate
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India Proposes Mandatory Royalties for AI Training on Copyrighted Content

India Proposes Mandatory Royalties for AI Training on Copyrighted Content

India has proposed a new framework that would require AI companies to pay royalties for using copyrighted content in training their models. This proposal aims to provide a 'mandatory blanket license' allowing AI firms access to all copyrighted works in exchange for payments to a collecting body, which would then distribute royalties to creators. The move comes amid global concerns over AI companies using copyrighted material without compensation, a practice that has led to legal challenges in the U.S. and Europe. India's approach is one of the most interventionist, seeking to ensure creators are compensated while reducing compliance costs for AI firms.
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US stocks hold relatively steady ahead of Fed decision on rates

US stocks hold relatively steady ahead of Fed decision on rates

U.S. stocks are holding relatively steady as Wall Street waits to hear what the Federal Reserve will say on Wednesday about where interest rates are heading
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Wall Street ticks modestly higher as markets await the Fed's last interest rate call of 2025

Wall Street ticks modestly higher as markets await the Fed's last interest rate call of 2025

Wall Street leaned toward tiny gains ahead of a two-day meeting of the Federal Reserve, where officials will make a decision on where to take the central bank’s benchmark interest rate
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World shares are mixed after Wall Street pulls back from its record heights

World shares are mixed after Wall Street pulls back from its record heights

European markets are mixed and Asian shares retreated after U.S. stocks pulled away from their record heights
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Microsoft to invest more than $5.4 billion in Canada to boost AI infrastructure

Microsoft to invest more than $5.4 billion in Canada to boost AI infrastructure

Dec 9 (Reuters) - Microsoft said on Tuesday it was investing more than C$7.5 billion ($5.42 billion) in Canada over the next two years, its latest in a series of investments in artificial intelligence infrastructure globally.
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Amazon Executive Torben Severson Joins OpenAI Amidst Tech Industry Shifts

Amazon Executive Torben Severson Joins OpenAI Amidst Tech Industry Shifts

Amazon Executive Torben Severson Joins OpenAI Amidst Tech Industry Shifts
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Power Finance Corp to Issue 15-Year Bonds to Raise $389.2 Million

Power Finance Corp to Issue 15-Year Bonds to Raise $389.2 Million

India's Power Finance Corp (PFC) is set to issue bonds with a maturity of 15 years, aiming to raise 35 billion rupees, equivalent to approximately $389.2 million. The company has invited bids for the coupon and commitment from bankers and investors, with the bidding scheduled for December 9. The bonds have been rated AAA by Crisil and Care, indicating a high level of creditworthiness. The issue size includes a base amount plus a greenshoe option, which allows for additional issuance if demand is high. The specific coupon rate for the bonds is yet to be determined.