Google to Invest $740m in Australia for “Digital Future Initiative”

Google, the US technology giant, has announced it would be investing about A$1bn (the equivalent of $740m) in Australia. The investment is regarded as the largest investment in the country to date.

Google wants to build a research hub in Australia with the money, increase its cloud computing capacity, and fund local technological initiatives. The move will be a robust partnership in particular with Australia’s science agency, the Commonwealth Scientific and Industrial Research Organisation (CSIRO).

In short, the investment funds are to cater to the digital innovation of Australia. Dubbed the “Digital Future Initiative,” the tech giant expects the investment to directly create 6,000 jobs and support the existing.

In a statement released during the launch, Google boss, Sundar Pichai, remarked that Australia can lead the world’s next wave of innovation by harnessing technology and creating more jobs.

The Australian Prime Minister, Scott Morrison, welcomed the plan by saying, “The decision by Google has major benefits for Australian businesses as we engage with the economic recovery before us.”

The move reflects the ambition of Sydney to become the Silicon Valley of the Southern Hemisphere. The capital has been heavily involved in digital innovation ideas with tech giants patronizing its resources.

However, tech companies have also come under great scrutiny in Australia. They’ve been accused of spreading misinformation. Google, particularly, has been under fire for its search engine dominance.

Also, in recent months, Australia passed legislation that makes big technology firms, including Google and Facebook, pay for news content carried on their platforms. It’s the first country in the world to ever do that.

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