Amazon Web Services plans to invest $35B in Virginia by 2024

Governor Glenn Youngkin announced that Amazon Web Services, an Amazon.com (AMZN) company, plans to invest $35B by 2040 to establish multiple data center campuses across Virginia. Numerous localities in the Commonwealth are under consideration and will be decided at a later date. These new campuses will combine expandable capacity to position AWS for long-term growth in the Commonwealth. Amazon is among the largest private-sector employers in the Commonwealth of Virginia, establishing its first AWS data centers and operations facilities in 2006 and later announcing its second headquarters in Arlington in 2018. This announcement of planned investment will create at least 1,000 total new jobs across Virginia, Youngkin said. "AWS has a significant presence in Virginia, and we are excited that AWS has chosen to continue their growth and expand their footprint across the Commonwealth," said Governor Glenn Youngkin. "Virginia will continue to encourage the development of this new generation of data center campuses across multiple regions of the Commonwealth. These areas offer robust utility infrastructure, lower costs, great livability, and highly educated workforces and will benefit from the associated economic development and increased tax base, assisting the schools and providing services to the community." Stocks moving higher following the news include Nvidia (NVDA) and Arista Networks (ANET). Reference Link