Amazon.com Inc. ( AMZN ) announced on Wednesday plans to invest AU$20 billion ($13.02 billion) through 2029 to expand its data center infrastructure across Australia, marking the nation’s largest global technology investment in history.

What Happened: The investment will strengthen Amazon Web Services’ cloud computing and artificial intelligence capabilities in Sydney and Melbourne, supporting growing customer demand for AI services.

According to Australia’s Department of Industry, Science and Resources, AI and automation could contribute AU$600 billion ($390.48 billion) annually to the nation’s GDP by 2030.

“This planned investment deepens our long-term commitment to supporting the growth and development of Australian organizations of all sizes,” said Matt Garman, AWS CEO, during the announcement with Australian Prime Minister Anthony Albanese in Seattle.

The expansion builds on AWS’s decade-long presence in Australia, which began with the Sydney Region launch in 2012. AWS opened its Melbourne Region in 2023 and launched Amazon Bedrock generative AI services in the Sydney Region last April.

To support the infrastructure expansion, Amazon ( AMZN ) is investing in three new solar farms across Victoria and Queensland, adding more than 170 megawatts of renewable energy capacity.

Why It Matters: The investment follows Amazon’s recent $10 billion North Carolina data center commitment, highlighting the company’s aggressive AI infrastructure expansion. Since 2017, AWS has trained more than 400,000 Australians in digital skills through various programs.

Albanese called the investment “exactly the kind of economic investment in our nation that we want to see,” emphasizing job creation and AI capability development.

AWS serves hundreds of thousands of Australian organizations, including Commonwealth Bank, ANZ Bank, Telstra and Canva, many leveraging generative AI services for operational transformation.

According to Benzinga Edge Stock Rankings, AMZN shows strong growth and positive momentum, supported by a modest valuation. The stock has maintained a favorable price trend across both short- and long-term timeframes. Click here for the full stock breakdown.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.