📌 Stocks and digital currencies are surging on news of Amazon’s $50 billion investment in artificial intelligence for United States government contracts.
– Cryptocurrencies and stocks are surging, helped by Amazon’s massive new investment in artificial intelligence (AI).
On Monday morning, the tech giant announced its intention to invest $50 billion to develop AI and high-performance computing capabilities for Amazon Web Services (AWS) customers in the U.S. government.
Amazon is set to build new data centers as early as next year, with total investment capacity reaching 1.3 gigawatts for AI and supercomputing needs in the AWS Top Secret, AWS Secret and AWS GovCloud (US) jurisdictions.
AWS CEO Matt Garman says the investment is designed to “transform the way federal agencies use supercomputing capacity.
“We are giving agencies increased access to advanced AI tools that will enable them to dramatically accelerate critical missions, from cybersecurity to drug development. This investment removes the technological barriers that have slowed government and will further strengthen America’s leadership in the AI era.
The stock market rebounded on Monday, with the S&P 500 gaining over 1.5% and the Nasdaq Composite gaining over 2.5% . Amazon rose 1.91% , although it is still down 1.43% over the past five trading days.
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