Amazon Web Services, a subsidiary of tech giant Amazon (AMZN), is aiming to help drive the growth of gaming in Saudi Arabia.
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AWS Will Mentor Gaming Startups
Amazon Web Services and technology investment firm Merak Capital said today they will provide technology and strategic support to early-stage gaming companies in Saudi Arabia. The partnership will look to help gaming startups “scale and achieve international growth through mentorship and technical expertise.” As part of this, Amazon Web Services will provide cloud computing resources and workshops to eligible companies.
Saudi Arabia has big plans for gaming in the country and wants to become a global hub. The Saudi Arabian gaming market was valued at $2.1 billion in 2024 and is projected to grow at a compound annual growth rate of 8.9% from 2025-2033. It is being helped by increased smartphone usage, better internet connectivity, and a young demographic.
AWS Secures Separate AI Deal
Amazon Web Services said it was also teaming up with Saudi Arabia’s STC Group to accelerate the deployment of cloud-based services and AI infrastructure in the country. Under the partnership, Amazon Web Services and STC will combine infrastructure resources – including generative AI/ML services such as Amazon Bedrock – to scale cloud-based workloads and AI-powered innovation across the Middle East.
The market potential in both Saudi Arabia and the Middle East is vast as countries look to ramp up digital transformation. According to PwC, AI will contribute $130 billion to Saudi Arabia’s economy by 2030, while IDC forecasts the value of public cloud services to reach just under $4 billion in 2027, growing by 23% annually over the next two years.
Is AMZN a Good Stock to Buy?
On TipRanks, AMZN has a Strong Buy consensus based on 47 Buy and 1 Hold rating. Its highest price target is $306. AMZN stock’s consensus price target is $268.70 implying an 17.06% upside.
