Dutch investment company Prosus has signed a three-year cloud and AI contract with Amazon Web Services (AWS).

Under the agreement, select Prosus portfolio companies will be able to use AWS' cloud and AI capabilities, including iFood, OLX, PayU, Despegar, eMag, and Just Eat Takeaway.com, spanning Latin America, Europe, and India.

The companies will also be able to co-create AI solutions with AWS.

According to a report from Bloomberg, the value of the deal is in the "hundreds of millions of dollars."

Igor Cardoso, head of Prosus Ecosystem, said: "Our past collaboration with AWS has enabled iFood and other Prosus portfolio companies to scale proven AI innovations like the Large Commerce Model, reshaping how customers experience ecommerce.

"Now, we’re deepening our partnership beyond commercial terms – AWS is committing engineering resources to co-develop products with us and provide portfolio-wide access and support to rapidly deploy use cases. Leveraging 10 years of shared innovation, this empowers us to accelerate growth across our global portfolio, unlocking an AI-first world for our 2 billion customers."

According to Prosus, the agreement aims to implement generative AI solutions, ensure system reliability, implement "enterprise-grade" security frameworks across its portfolio companies, optimize cloud spending, and develop "unified technology templates."

Cardoso told Bloomberg that Prosus has a team of about 1,000 AI specialists that will work with AWS counterparts, and the company is investing about $100 million annually in AI talent and infrastructure.

Bloomberg reports that the deal was part-motivated by a desire for Prosus to consolidate its AI and cloud contracts into one provider and could result in signficiant cost savings.

"Prosus demonstrates how commerce companies are leveraging AI to transform customer experiences," said Greg Pearson, vice president, AWS Global Sales. "By combining AWS' AI and machine learning capabilities with Prosus's operational expertise across its portfolio, we're changing how customers experience and discover products."

Prosus is an investment company that works across multiple sectors, including social networking, gaming, classifieds, payments, financial technology, educational technology, food delivery, real estate listings, and ecommerce. The company was founded in 1997, and its majority shareholder is South Africa's Naspers.