Amazon's Cloud Business Growth and Increased Capital Spending
Amazon's cloud business, Amazon Web Services (AWS), reported a 28% year-over-year increase in net sales to $37.6 billion, driven by the AI boom. The growth marks the fastest rate in 15 quarters, with CEO Andy Jassy attributing the success to AWS's role in supporting AI infrastructure. Amazon is also increasing capital spending to expand its cloud infrastructure.
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Topics: AI AWS Capital Expenditure Cloud Computing Earnings