Apple Is Working On a High-Speed Data Network Like Google Fiber, Bloomberg Reports

Apple Inc is setting up its own high-speed network and upgrading how it builds data centers to compete better with Amazon.com, Google and Microsoft, in cloud services, according to reports.

Notably, Apple will not replace its current service providers and will continue to work with them, a report by Bloomberg noted. As of now, the company uses data centers to provide services such as iTunes, Siri, iCloud etc.

Apple said in February it would spend 1.7 billion euros to build two data centers in Europe. The data centers in Ireland and Denmark would power Apple's online services, including the iTunes Store, App Store, iMessage, Maps and Siri for customers in Europe.

Right now, it's not clear how much the company is going to spend on developing the infrastructure, but according to estimates, it is expected to cost billions. Apple put $1 billion into data centers last year, according to Analysis, which pegged it as the seventh-largest cloud infrastructure spender in 2014.

This is a clear indication that iPhone maker has realized the importance of having its own data network and invest in cloud, an area which it seemingly neglected for the past few years.