This article first appeared on GuruFocus.

Amazon (NASDAQ:AMZN) traded steady on Monday after a Bloomberg report said the company’s data center footprint is far larger than publicly understood, spanning more than 900 facilities across over 50 countries.

The documents, reviewed by Bloomberg and SourceMaterial, show that Amazon Web Services relies not only on its major hubs in Virginia and Oregon but also on a colossal network of rented colocation sites.

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These colocation centers, or colos, accounted for roughly 20% of AWS’s computing power last year, underscoring a hybrid strategy blending owned campuses with third-party space.

As of early 2024, AWS depended on more than 440 colocation data centers and more than 220 additional rented edge locations that act as access points near major cities.

AWS spokesperson Aisha Johnson said that Amazon’s approach balances ownership with flexibility, adding that demand for AI workloads is accelerating the need for both owned and leased capacity worldwide.