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Google (GOOGL) announces AUD1bn investment in Australia

By Mensholong Lepcha

08:15, 16 November 2021

Google headquarters in Mountain View, California
Google headquarters in Mountain View, California – Photo: Shutterstock

Google plans to invest AUD1bn ($736m) in Australia over five years on infrastructure, research and partnerships, the company said on Tuesday.

Under its Digital Future Initiative, the US-based internet giant said it will invest in cloud computing and digital infrastructure to “help Australians make the most of technology.”

Google added that it will set up its first research hub in Australia to explore artificial intelligence and machine learning technologies to tackle environmental and social issues including mental health problems, bushfires and wildlife protection.   

Google’s Digital Future Initiative

“The Digital Future Initiative will support 6,529 direct jobs and 28,057 total jobs across Australia and deliver AUD1.259bn in direct investment and AUD6.716bn in total economic impact,” said Henry Ergas AO and Green Square Associates.

The company said it will make a multimillion-dollar investment in Australia’s national science agency, CSIRO, to explore clean energy.


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Google will also partner with Macquarie University for quantum computing research, the company said.

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New tech partnerships

Google chief executive Sundar Pichai said the billion-dollar investment plan will help develop Australia’s digital infrastructure, provide opportunities to local tech talent and create new technology partnerships to help solve Australian and global challenges.

“Google’s growing presence across Australia reflects our deep confidence in the future — and the profound opportunities ahead,” said Pichai.

Read more: Frustration mounts as SEC continues to delay crypto rules

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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