Amazon CEO pledges AI investments will pay off as capital expenditures surge 81%
Amazon(AMZN) CNBC·2024-11-01 08:05
Amazon CEO Andy Jassy is trying to reassure investors who may be worried about the future payoff of the company's massive investments in generative artificial intelligence.On a conference call with analysts following the company's third-quarter earnings report on Thursday, Jassy pointed to the success of Amazon's cloud computing business, Amazon Web Services, which has become a crucial profit engine despite the extreme costs associated with building data centers."I think we've proven over time that we can d ...