Investing.com -- Oracle (NYSE: ORCL ) on Tuesday announced plans to invest a combined $3 billion in artificial intelligence and cloud infrastructure across Germany and the Netherlands over the next five years.
The technology company will allocate $2 billion to Germany and $1 billion to the Netherlands, according to statements released by Oracle.
The Dutch investment will specifically expand Oracle’s cloud and AI services through its Amsterdam data center to address growing demand in the country, according to a report by Het Financieele Dagblad.
While Oracle has outlined the five-year timeframe for these investments, the company has not indicated whether the Amsterdam expansion will create additional jobs, the report said.
This European investment initiative comes as major technology companies continue to expand their AI and cloud computing capabilities globally.