IREN proposes $875 million convertible notes offering due 2031
Investing.com -- Google announced on Wednesday it has eliminated data transfer fees for organizations processing workloads "in parallel" across multiple cloud platforms in the European Union and United Kingdom, just days before the EU Data Act takes effect on Friday.
The tech giant’s decision comes as regulators in both the EU and Britain work to boost competition in the rapidly expanding cloud market, which is currently dominated by Amazon Web Services (AWS), Microsoft Azure, and to a lesser degree, Google Cloud.
In its announcement, Google stated that this move exceeds the requirements outlined in the upcoming EU Data Act, which only mandates that companies charge fees "at cost" for such data transfers.
The change affects organizations that operate workloads simultaneously across two or more cloud platforms in these regions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.