Use Amazon EMR to process the data and convert it to Parquet format, then store the result in Amazon S3.

Use AWS Glue to create a job that reads the CSV data from Amazon S3, converts it to Parquet, and writes the result back to Amazon S3. Enable Glue's dynamic frame optimization feature to improve performance.

Use AWS Lambda to process the CSV data in small batches, convert it to Parquet format, and store the result in Amazon S3. Monitor the Lambda function's performance and adjust the batch size as needed.

Use Amazon Redshift to load the CSV data, convert it to Parquet format using the COPY command, and store the result in Amazon S3. Optimize the Redshift cluster for performance by choosing the appropriate node type and number of nodes.