U.S. internet giant Amazon will announce a new 1.2 billion euros ($1.3 billion) investment in France, the French presidency said on Sunday ahead of the start of the country's annual "Choose France" event.

Amazon said it will invest in building out cloud computing infrastructure in anticipation of growing demand from the artificial intelligence sector

AMAZON.COM, Pfizer and Morgan Stanley are among the companies poised to boost their presence in France, with a flurry of new foreign investments to be unveiled on Monday (May 13). Read more at The Business Times.