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Amazon, Built by Retail, Invests in Its AI Future

An anonymous reader shares a report: Amazon built a $2 trillion company through years of aggressive spending on its retail and logistics businesses. Its future gains will likely be determined by the billions designated to fund its artificial-intelligence push. Amazon is planning to spend more than $...

An anonymous reader shares a report: Amazon built a $2 trillion company through years of aggressive spending on its retail and logistics businesses. The Seattle company is now devoting more investment money to its cloud computing and AI infrastructure than to its sprawling network of e-commerce warehouses. We have to figure it out," said John Felton, who took over as AWS's chief financial officer this year after spending most of his career in Amazon's retail fulfillment operations.

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