06:59 AM EDT, 05/28/2024 (MT Newswires) -- Amazon.com ( AMZN ) 's computing unit Amazon Web Service is in discussions to invest billions of euros to expand its data center business in Italy as part of the company's plan to increase its cloud offerings in Europe, Reuters reported Monday citing four people familiar with the matter.

The tech giant is currently in talks with the Italian government about the size and location of the investment, with the expansion of its current site or construction of a new location in Milan under consideration, one of the sources cited by Reuters said.

AWS' investment in Italy will be in the billions but it may not reach the size of its plans for Spain, where it recently unveiled a 15.7 billion euro investment, according to one of the sources.

Amazon ( AMZN ) declined to comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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