Amazon.com Inc. (NASDAQ:AMZN) announced plans on Wednesday to invest $10 billion in North Carolina data center infrastructure to support artificial intelligence and cloud computing technologies, marking one of the largest investments in state history.
What Happened: The Richmond County deployment will create at least 500 high-skilled positions, including data center engineers, network specialists, and security experts. The investment supports thousands of additional jobs in the Amazon Web Services supply chain as generative AI drives increased demand for advanced cloud infrastructure.
“Amazon’s investment is among the largest in state history and will bring hundreds of good-paying jobs and an economic boost to Richmond County,” said North Carolina Governor Josh Stein.
Since 2010, Amazon has invested $12 billion in North Carolina, contributing $13.1 billion to the state’s GDP while supporting 24,000 full and part-time jobs plus 26,000 indirect positions across various facilities.
Why It Matters: The expansion strengthens Amazon’s AI capabilities as the company launches a new agentic AI group within its Lab126 division. BofA Securities analysts recently raised Amazon’s price target from $230 to $248, citing strengthened competitive positioning through AI and robotics investments.
Amazon operates over 750,000 robots assisting in 75% of customer orders. BofA estimates advanced robotics and AI could drive $16 billion in annual savings by 2032, adding 1.6 percentage points to Amazon’s long-term retail margin.
The company established the Amazon Richmond County Community Fund with $150,000 for grants up to $10,000 supporting STEM education, workforce development, and economic initiatives.
Price Action: Amazon.com Inc.’s stock closed at $207.23 on Wednesday, up 0.74% for the day. In after-hours trading, the stock dipped slightly to $207.10, down 0.063%. Year to date, Amazon shares have declined by 5.90%.
According to Benzinga Edge Stock Rankings, AMZN demonstrates positive momentum and strong growth, with a modest valuation. The stock maintains a favorable price trend across short to long-term periods. Click here to view 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.
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