1 Update Amazon CEO Andy Jassy Just Said That Every Artificial Intelligence (AI) Investor Should Hear
Amazon reported a 17% year-over-year increase in sales and a 30% increase in operating income, with its AWS cloud business growing 28% year over year, driven by AI expansion. Amazon CEO Andy Jassy explained that the company is investing heavily in capital expenditures to support AI growth.
Amazon reported a 17% year-over-year increase in sales and a 30% increase in operating income. Its AWS cloud business grew 28% year over year, driven by AI expansion. AWS is the largest cloud company in the world, and its growth is accelerating. Amazon added or expanded deals with OpenAI, Anthropic, Meta Platforms, Nvidia, and Uber in the quarter. Amazon is spending heavily on capital expenditures to support AI growth, laying out cash for land, power, buildings, chips, servers, and networking gear in advance of when it can be monetized. This investment is expected to drive long-term growth for Amazon and its suppliers, including companies like Bloom Energy, X-Energy, and Sandisk.
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