Google Joins Hands With Chilean Government To Establish First APAC-Linking Undersea Cable
Portfolio Pulse from Benzinga Neuro
Google and the Chilean government have announced a partnership to build the Humboldt Cable Project, an undersea fiber-optic cable connecting South America with the Asia Pacific region. The cable will run from Valparaiso, Chile, to Sydney, Australia, and is expected to last 25 years. This project is significant amid the tech rivalry between China and the U.S. for influence in Latin America. Google's involvement is part of its broader efforts to expand its fiber-optic network, following the launch of a 20Gbps internet service through Google Fiber.
January 12, 2024 | 6:49 am
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POSITIVE IMPACT
Google's collaboration with the Chilean government on the Humboldt Cable Project may enhance its network infrastructure and strengthen its position in South America.
The announcement of the Humboldt Cable Project is likely to be viewed positively by investors as it represents strategic expansion and potential for new revenue streams. The project aligns with Google's recent infrastructure investments and could improve its competitive stance in the region, which may lead to a short-term positive impact on GOOG's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Alphabet's involvement in the Humboldt Cable Project through its subsidiary Google may positively influence its market position in the Asia Pacific and South American regions.
Similar to GOOG, the news about the Humboldt Cable Project is expected to have a positive impact on GOOGL's stock price in the short term. The project is a significant development in Alphabet's global infrastructure and could lead to enhanced connectivity services in the Asia Pacific and South American markets, which is a positive signal for investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80