Amazon expects to spend $75 billion on capital expenditure in 2024 and even more in 2025, mainly driven by rising demand for generative AI.
AWS keeps expanding, with Q3 net sales up 19% year-on-year, while operating profit jumped almost 50% to $10.45 billion, against rising expenses.
Jassy noted that companies are modernizing their infrastructure from on-premises to cloud, which helps them save money and boosts productivity.
AWS's AI business is a rapidly growing multibillion-dollar sector, particularly as customers strategize around the use of generative AI and model training.
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