Amazon CEO pledges AI investments will pay off as capital expenditures surge 81%
Publishing timestamp: 2024-10-31 20:05:26
Summary
Amazon's capital expenditures jumped 81% in the third quarter, primarily driven by investments in generative artificial intelligence. CEO Andy Jassy reassured shareholders that the company expects to make money on these investments in the long term. Other tech companies like Meta, Microsoft, and Alphabet are also increasing their capital expenditures in AI.
Sentiment: NEUTRAL
Keywords: technology, business news, breaking news: technology, microsoft corp, amazon.com inc, internet, meta platforms inc,