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Amazon's AI Dominance: Nvidia Deal, Layoffs, and Soaring Profits Reshape Tech Landscape
Amazon BioSnap a weekly updated Biography.
Amazon has had an exceptionally eventful few days marked by major strategic pivots and significant personnel changes. On November 3rd, the company announced a landmark 38 billion dollar deal with OpenAI to supply Nvidia chips through Amazon Web Services, signaling the e-commerce giant's aggressive push into artificial intelligence infrastructure. This partnership represents a seven-year commitment running through the end of 2026 and helped propel Amazon stock up 4.6 percent, making the company worth 2 trillion dollars.
Just days earlier, Amazon confirmed it would cut approximately 14,000 corporate jobs, representing about 4 percent of its roughly 350,000 corporate workforce. The layoffs take effect by the end of January, with 2,303 cuts hitting Washington state alone. Seattle businesses have expressed serious concern about the ripple effects. Local restaurant owner Nasima Akhter, who counts Amazon employees among her regular customers, worried aloud about survival. However, CEO Andy Jassy offered an interesting twist during the company's earnings call Thursday, claiming the layoffs were primarily about cultural fit rather than financial necessity or artificial intelligence considerations, despite the company's simultaneous massive spending increases on AI infrastructure.
On the earnings front, Amazon reported impressive results with overall sales rising 13 percent to 180 billion dollars and net profit surging 39 percent to 21.2 billion dollars. Crucially, Amazon Web Services revenue climbed 20 percent, marking the fastest growth rate since 2022. The company has added more than 3.8 gigawatts of power capacity in the past year, more than any competitor.
Infrastructure expansion continues aggressively beyond the OpenAI deal. Amazon broke ground on a 10 billion dollar data center campus east of Charlotte, North Carolina, expected to create 500 jobs. Separately, the company selected a Dayton, Ohio location for a 3 billion dollar data center project complete with a 30-year tax abatement valued up to 350 million dollars.
Meanwhile, CEO Andy Jassy emphasized during earnings discussions that Amazon is fundamentally shifting consumer behavior around grocery shopping, pointing to success with same-day perishable delivery that's compelling customers to integrate milk, eggs, and yogurt into their regular Amazon orders.
In less celebrated news, Amazon ended active development on its gaming title New World during this same period.
Get the best deals https://amzn.to/3ODvOta
This content was created in partnership and with the help of Artificial Intelligence AI
Amazon has had an exceptionally eventful few days marked by major strategic pivots and significant personnel changes. On November 3rd, the company announced a landmark 38 billion dollar deal with OpenAI to supply Nvidia chips through Amazon Web Services, signaling the e-commerce giant's aggressive push into artificial intelligence infrastructure. This partnership represents a seven-year commitment running through the end of 2026 and helped propel Amazon stock up 4.6 percent, making the company worth 2 trillion dollars.
Just days earlier, Amazon confirmed it would cut approximately 14,000 corporate jobs, representing about 4 percent of its roughly 350,000 corporate workforce. The layoffs take effect by the end of January, with 2,303 cuts hitting Washington state alone. Seattle businesses have expressed serious concern about the ripple effects. Local restaurant owner Nasima Akhter, who counts Amazon employees among her regular customers, worried aloud about survival. However, CEO Andy Jassy offered an interesting twist during the company's earnings call Thursday, claiming the layoffs were primarily about cultural fit rather than financial necessity or artificial intelligence considerations, despite the company's simultaneous massive spending increases on AI infrastructure.
On the earnings front, Amazon reported impressive results with overall sales rising 13 percent to 180 billion dollars and net profit surging 39 percent to 21.2 billion dollars. Crucially, Amazon Web Services revenue climbed 20 percent, marking the fastest growth rate since 2022. The company has added more than 3.8 gigawatts of power capacity in the past year, more than any competitor.
Infrastructure expansion continues aggressively beyond the OpenAI deal. Amazon broke ground on a 10 billion dollar data center campus east of Charlotte, North Carolina, expected to create 500 jobs. Separately, the company selected a Dayton, Ohio location for a 3 billion dollar data center project complete with a 30-year tax abatement valued up to 350 million dollars.
Meanwhile, CEO Andy Jassy emphasized during earnings discussions that Amazon is fundamentally shifting consumer behavior around grocery shopping, pointing to success with same-day perishable delivery that's compelling customers to integrate milk, eggs, and yogurt into their regular Amazon orders.
In less celebrated news, Amazon ended active development on its gaming title New World during this same period.
Get the best deals https://amzn.to/3ODvOta
This content was created in partnership and with the help of Artificial Intelligence AI
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By Inception Point AiAmazon BioSnap a weekly updated Biography.
Amazon has had an exceptionally eventful few days marked by major strategic pivots and significant personnel changes. On November 3rd, the company announced a landmark 38 billion dollar deal with OpenAI to supply Nvidia chips through Amazon Web Services, signaling the e-commerce giant's aggressive push into artificial intelligence infrastructure. This partnership represents a seven-year commitment running through the end of 2026 and helped propel Amazon stock up 4.6 percent, making the company worth 2 trillion dollars.
Just days earlier, Amazon confirmed it would cut approximately 14,000 corporate jobs, representing about 4 percent of its roughly 350,000 corporate workforce. The layoffs take effect by the end of January, with 2,303 cuts hitting Washington state alone. Seattle businesses have expressed serious concern about the ripple effects. Local restaurant owner Nasima Akhter, who counts Amazon employees among her regular customers, worried aloud about survival. However, CEO Andy Jassy offered an interesting twist during the company's earnings call Thursday, claiming the layoffs were primarily about cultural fit rather than financial necessity or artificial intelligence considerations, despite the company's simultaneous massive spending increases on AI infrastructure.
On the earnings front, Amazon reported impressive results with overall sales rising 13 percent to 180 billion dollars and net profit surging 39 percent to 21.2 billion dollars. Crucially, Amazon Web Services revenue climbed 20 percent, marking the fastest growth rate since 2022. The company has added more than 3.8 gigawatts of power capacity in the past year, more than any competitor.
Infrastructure expansion continues aggressively beyond the OpenAI deal. Amazon broke ground on a 10 billion dollar data center campus east of Charlotte, North Carolina, expected to create 500 jobs. Separately, the company selected a Dayton, Ohio location for a 3 billion dollar data center project complete with a 30-year tax abatement valued up to 350 million dollars.
Meanwhile, CEO Andy Jassy emphasized during earnings discussions that Amazon is fundamentally shifting consumer behavior around grocery shopping, pointing to success with same-day perishable delivery that's compelling customers to integrate milk, eggs, and yogurt into their regular Amazon orders.
In less celebrated news, Amazon ended active development on its gaming title New World during this same period.
Get the best deals https://amzn.to/3ODvOta
This content was created in partnership and with the help of Artificial Intelligence AI
Amazon has had an exceptionally eventful few days marked by major strategic pivots and significant personnel changes. On November 3rd, the company announced a landmark 38 billion dollar deal with OpenAI to supply Nvidia chips through Amazon Web Services, signaling the e-commerce giant's aggressive push into artificial intelligence infrastructure. This partnership represents a seven-year commitment running through the end of 2026 and helped propel Amazon stock up 4.6 percent, making the company worth 2 trillion dollars.
Just days earlier, Amazon confirmed it would cut approximately 14,000 corporate jobs, representing about 4 percent of its roughly 350,000 corporate workforce. The layoffs take effect by the end of January, with 2,303 cuts hitting Washington state alone. Seattle businesses have expressed serious concern about the ripple effects. Local restaurant owner Nasima Akhter, who counts Amazon employees among her regular customers, worried aloud about survival. However, CEO Andy Jassy offered an interesting twist during the company's earnings call Thursday, claiming the layoffs were primarily about cultural fit rather than financial necessity or artificial intelligence considerations, despite the company's simultaneous massive spending increases on AI infrastructure.
On the earnings front, Amazon reported impressive results with overall sales rising 13 percent to 180 billion dollars and net profit surging 39 percent to 21.2 billion dollars. Crucially, Amazon Web Services revenue climbed 20 percent, marking the fastest growth rate since 2022. The company has added more than 3.8 gigawatts of power capacity in the past year, more than any competitor.
Infrastructure expansion continues aggressively beyond the OpenAI deal. Amazon broke ground on a 10 billion dollar data center campus east of Charlotte, North Carolina, expected to create 500 jobs. Separately, the company selected a Dayton, Ohio location for a 3 billion dollar data center project complete with a 30-year tax abatement valued up to 350 million dollars.
Meanwhile, CEO Andy Jassy emphasized during earnings discussions that Amazon is fundamentally shifting consumer behavior around grocery shopping, pointing to success with same-day perishable delivery that's compelling customers to integrate milk, eggs, and yogurt into their regular Amazon orders.
In less celebrated news, Amazon ended active development on its gaming title New World during this same period.
Get the best deals https://amzn.to/3ODvOta
This content was created in partnership and with the help of Artificial Intelligence AI