WSJ: Alphabet, Aramco planning data centers in Saudi Arabia
February 2, 2018 by admin
Filed under Choosing Lingerie
Alphabet (GOOG, GOOGL) and Saudi Arabia state-owned oil giant Aramco (Private:ARMCO) are in talks to build a large tech hub in the region, according to WSJ sources.
As part of the potential JV, Alphabet would help Aramco build data centers around Saudi Arabia, but it’s unclear whose data and who would own the centers.
The unspecified value of the deal would likely be large enough to list on the Saudi Arabia stock exchange.
Technophile Prince Mohammed wants to wean the kingdom off its oil reliance and sees tech sector developments as a key part of the plan.
Alphabet’s Google could start closing its gap with cloud computing leaders Amazon (NASDAQ:AMZN) Web Services and Microsoft Azure. Amazon is close to finalizing a $1B deal for three data centers in the kingdom.
Alphabet Class A shares are down 0.7%.
