10:31 AM EDT, 05/08/2024 (MT Newswires) -- (Updates with additional details throughout.)

Amazon.com ( AMZN ) has struck a deal with Telefonica Germany that will see Telefonica move 1 million 5G customers to Amazon Web Services' cloud later this month, Reuters reported.

"I want to see it working for at least one to two quarters and have a roadmap to move at least 30-40% of my customer base by 2025-2026," Telefonica Germany Chief Technology & Information Officer Mallik Rao told Reuters.

Amazon Web Services and Telefonica Germany didn't provide financial details about the project, the report said, adding that Telefonica Germany has 45 million customers in the country.

"We want to make it a business to run telco workloads," Reuters quoted Amazon Web Services' Vice President Jan Hofmeyr as saying in an interview.

Hofmeyr said AWS expects more deals with telecom operators in the next year, according to the report.

"I would say in most cases the discussion is about timing versus should we move into the cloud," Hofmeyr told Reuters.

Nokia ( NOK ) will provide the software for the Telefonica Germany project, while Amazon Web Services will provide the infrastructure, the report said.

Amazon ( AMZN ) didn't immediately respond to a request for comment by MT Newswires.

(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.)

Price: 187.42, Change: -1.34, Percent Change: -0.71