There is a sense of optimism about Spain’s current capacity to attract strategic US investment in data centers, artificial intelligence, semiconductors, and clean energy. Leading American firms such as Amazon Web Services, Microsoft, Cisco, Citi, American Express, Google, and Netflix have recently expanded their footprints in Spain. The United States Chamber of Commerce in Spain, a 104-year-old institution with 280 members representing about a quarter of Spain’s GDP, has long tracked these developments under the leadership of Jaime Malet, who has served as its president for two decades and as CEO of the strategic consulting firm Telam.
Malet is known for attending nearly every recent US presidential inauguration as the representative of a Spanish business voice, and his leadership has kept a close eye on delegations visiting the United States from Spain. During Catalonia’s independence era, he stood out as one of the few business and financial leaders who publicly opposed separatist moves with clarity and resolve.
Because his agenda centers on investment and market access, his insights carry weight. He notes that Spain projects a stable image abroad, a factor that matters to investors seeking proximity to production and markets. Seen from the United States, Spain’s energy independence from Russia is a strategic advantage, and the country is positioning itself as a hub for new energy technologies. Yet concerns persist about heavy bureaucratic processes, tax levels, and visa policies that can slow talent flow. A notable development is the digitization-focused startup law championed by the Secretary of State for Digital Innovation, Carmen Artigas, which could accelerate investment and venture activity.
American firms are particularly prominent in Spain as multi‑product investors, a contrast to scenarios where large private or finance-led investments dominate. Historically, the United States has stood out as a leading investor in Spain, tracing its influence back to the early modernization of the Spanish economy. The era saw automotive and manufacturing players establishing a foothold, followed by broad investments from major industrial and financial groups. Key Spanish figures and institutions later connected with US investment and advisory networks, alongside enduring contributions from law, media, and other sectors. Major consumer, food, beverage, and pharmaceutical brands have also established a lasting presence in Spain, underscoring deep commercial ties.
There are about 2,900 US companies with direct investments in Spain, employing roughly 228,000 people. In addition, US fund managers contribute to Spanish corporate capital, whether or not companies are listed on the stock market. Over the past five years, US direct investment has averaged around 5.7 billion euros annually, a figure that places the United States ahead of France and the United Kingdom and accounts for roughly 17.6% of total foreign investment in the country.
Malet highlights projects such as Cisco and Intel backing semiconductor design and development in Barcelona, part of the broader push in the chip race against Asian competitors. Spain’s semiconductor initiative is supported by a national program that could mobilize up to 12.5 billion euros, aligning with broader European and domestic goals. In parallel, Amazon through its Aragon-based AWS unit has announced a 2.5 billion euro investment plan over ten years focused on logistics and cloud services. Google has disclosed a 600 million euro cloud investment in Spain through 2025, while American Express has added hundreds of jobs tied to its core platforms, and Citi is expanding its investment center in the country. These announcements signal a sustained and growing US footprint in Spain as part of a broader transatlantic technology and commerce strategy, with more investments anticipated in the near term. [Citation: Source overview on US–Spain investment dynamics]