Amazon · CNBC Technology
Andy Jassy confirms Amazon investors will be rewarded by all its AI spending
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Andy Jassy said Amazon's massive spending on artificial intelligence isn't something investors should fear, it's exactly why they'll be rewarded over time.
Key facts
- After the first three years of this incarnation of AI, our run rate is over $15 billion, 260 times what it was the first three years of AWS," he said
- In February, Amazon announced plans to invest $200 billion this year in capital expenditures, largely tied to AI infrastructure
- When you have shifts that are this momentous … you want to bet big," added Jassy, who used to lead Amazon's cloud unit before replacing Jeff Bezos as companywide CEO in 2021
- We believe that AI is the biggest technology transformation in our lifetimes," the CEO said on " Mad Money
Summary
"We believe that AI is the biggest technology transformation in our lifetimes," the CEO said on " Mad Money. In February, Amazon announced plans to invest $200 billion this year in capital expenditures, largely tied to AI infrastructure. The crux of the debate surrounding the stock: Will Amazon be able to generate meaningful returns from all this spending? Jassy argues that scale of spending reflects how big the opportunity is.