Revenue at Amazon Web Services has soared by more than 200% driven by AI and advertising sales, surpassing Wall Street expectations with an overall revenue of $143.3bn in the first quarter of 2024.
CEO Andy Jassy mentions the acceleration of AWS due to companies modernizing infrastructure and the appeal of AWS's AI capabilities, while advertising efforts benefit from growth in Stores and Prime Video businesses.
Amazon focuses on generative AI innovations, with Amazon Bedrock allowing customization of large language models. Strategic collaboration with NVIDIA aims to unlock new generative AI capabilities.
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