Amazon doubled its spending on industrial properties in 2024 compared to the prior year, handing out more than $2B across at least 39 transactions. The company spent $920M on properties in 2023.
The purchases this year included a major expansion of its logistics network, but Amazon spent significantly more money acquiring land to fuel the demand for its Amazon Web Services cloud computing arm that`s being driven by the explosion of artificial intelligence.
Amazon acquired at least 3,000 acres across 14 states in 2024, according to CoStar data. The purchases represent not just an expansion of the company’s data center capacity but a shift in strategy as consumer spending patterns change yet again...
Amazon acquired at least 3,000 acres across 14 states in 2024, according to CoStar data. The purchases represent not just an expansion of the company’s data center capacity but a shift in strategy as consumer spending patterns change yet again...
RSK: Most of this is driven by AI and their data centers which need power to run. They also are investing heavily in small nuclear reactors research to help power them. This may help the power grid in the long run.
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- - Volume: 25 - WEEK: 2 Date: 1/7/2025 12:38:31 PM -