Prosus NV has entered into a multi-year cloud computing and artificial intelligence agreement with the cloud services division of Amazon.com, a deal that will consolidate contracts in these areas and is projected to yield cost savings in the double-digit percentage range. Igor Cardoso, Head of the Prosus Ecosystem, stated in an interview that the three-year agreement with Amazon Web Services (AWS) is valued at "hundreds of millions of dollars," although he declined to specify the exact financial terms.
Under the leadership of CEO Fabricio Bloisi, Prosus is undergoing a restructuring focused on Europe, India, and Latin America, aiming to develop AI capabilities to accelerate and scale its operations across these three regions with the goal of doubling its value by 2028. Cardoso elaborated on the strategy, saying, "Our plan is to roll out our large-scale business model across all of Latin America. Subsequently, we intend to implement this in Europe, and then gradually expand into India."
The company already holds significant assets in Latin America, including the Brazilian food delivery and logistics operator iFood, the travel company Despegar, and the online classifieds platform OLX. Cardoso pointed out that while companies cannot share data across different regions, the standardization of AI models makes it easier and faster to build applications for new jurisdictions.
Cardoso revealed that Prosus has a team of approximately 1,000 AI specialists who will collaborate with their counterparts at Amazon to co-develop applications. He further added that the group invests approximately $100 million annually in AI talent and infrastructure. "Over the past 18 to 24 months, we have already built and deployed agent assistants across various business units," Cardoso noted.
Cape Town-based Naspers spun off Prosus in 2019 as part of the South African company's strategy to focus on its internet investments. Naspers built its fortune through an early investment in the Chinese tech giant Tencent; in 2001, it acquired a 46% stake in Tencent for $32 million, and its current 23% holding is valued at nearly $156 billion.
Bloisi is focused on enhancing the profitability and scale of Prosus's other businesses through a series of transactions, which include the acquisition of European food delivery firm Just Eat Takeaway.com for approximately $4.6 billion and the purchase of Argentina's Despegar for $1.7 billion. As part of the collaborative agreement with Amazon, Cardoso indicated that Prosus will also utilize its partner's infrastructure and data centers across various regions.
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