financetom
Technology
financetom
/
Technology
/
Amazon Partners With Orange To Launch Cloud Services In Morocco And Senegal: Report
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Amazon Partners With Orange To Launch Cloud Services In Morocco And Senegal: Report
May 29, 2024 9:58 AM

Amazon.com Inc ( AMZN ) and French telecommunications company Orange reportedly have entered into a new partnership to introduce cloud computing services in Morocco and Senegal through Amazon’s AWS Wavelength platform.

This marks the first time these services will be available in countries without physical AWS infrastructure, such as data centers, reported Reuters.

Instead, Orange will host these services in its own facilities, expanding AWS’s reach across the African continent.

The increasing need for faster computing solutions from sectors such as banking, telecommunications, and healthcare is driving cloud operators to Africa, the report noted.

Citing data from Statista, Reuters noted that the cloud market in Africa is projected to grow by 15% annually, reaching $18 billion by 2028.

This growth is fueled by rising data consumption, which in turn necessitates secure local data hosting solutions.

AWS’s infrastructure enables customers in regulated industries like telecom, finance, public sector, and healthcare to deploy and run applications locally, meeting data residency, low latency, and security needs.

Also Read: Amazon Inks ‘Largest Technology Investment’ In Spain, Pours $17B Into Cloud Infrastructure

“Customers of all sizes and industries in Morocco and Senegal will be able to access local AWS compute and storage for data residency, low latency, and security needs for applications,” the report quoted Jan Hofmeyr, AWS Vice President.

Currently, AWS dominates the global $270 billion cloud infrastructure market but has a limited presence in Africa, operating mainly in South Africa.

Approximately 30 operators across 17 African markets have launched 5G services, with ten additional countries announcing plans for 5G deployment, according to the GSMA, which the report noted.

Amazon ( AMZN ) stock has gained more than 50% in the last 12 months. Investors can gain exposure to the stock via Consumer Discretionary Select Sector SPDR Fund ( XLY ) and Vanguard Consumer Discretionary ETF ( VCR ) .

Price Action: AMZN shares are trading higher by 0.64% at $183.32 at the last check Wednesday.

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

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
European Commission Backs Italian State Aid To STMicroelectronics'  Chip Plant: Details
European Commission Backs Italian State Aid To STMicroelectronics' Chip Plant: Details
May 31, 2024
The European Commission has given the green light to a €2 billion Italian initiative aimed at supporting STMicroelectronics ( STM ) N.V. in establishing and running an integrated chip manufacturing facility in Catania, Sicily. The facility will produce Silicon Carbide (SiC) power devices, contributing to Europe’s technological self-sufficiency and digital sovereignty as outlined in the European Chips Act. STMicroelectronics’ project,...
The Analyst Verdict: Cloudflare In The Eyes Of 19 Experts
The Analyst Verdict: Cloudflare In The Eyes Of 19 Experts
May 31, 2024
19 analysts have shared their evaluations of Cloudflare ( NET ) during the recent three months, expressing a mix of bullish and bearish perspectives. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings...
Nvidia set to overtake Apple as world's second-most valuable company
Nvidia set to overtake Apple as world's second-most valuable company
May 31, 2024
(Reuters) - Nvidia could soon surpass Apple to become the world's second-most valuable company, as the kingmaker behind the AI revolution takes on the iPhone maker that has ruled Wall Street for decades. The reliance of virtually all artificial intelligence applications such as OpenAI's ChatGPT on Nvidia's high-end chips has helped the stock nearly triple in value over the past...
What the Options Market Tells Us About Broadcom
What the Options Market Tells Us About Broadcom
May 31, 2024
Deep-pocketed investors have adopted a bullish approach towards Broadcom ( AVGO ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AVGO usually suggests something big is about to happen. We gleaned this information from...
Copyright 2023-2026 - www.financetom.com All Rights Reserved