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Amazon profit soars due to AI and advertising
Amazon profit more than triples as company says artificial intelligence and advertising sales have driven its better-than-expected earnings.
Revenue at Amazon Web Services has soared by more than 200% and the company says artificial intelligence (AI) and advertising sales have driven its better-than-expected earnings. In a statement within the report, the president and CEO Andy Jassy says how the “combination of companies renewing their infrastructure modernization efforts and the appeal of AWS’s AI capabilities” has accelerated Amazon Web Services. AWS and NVIDIA have also announced an extension of the strategic collaboration during this financial reporting period, with the aim being to “help customers unlock new generative AI capabilities.”
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