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Amazon shares sink as company boosts AI spending by nearly 60%

Amazon.com shares fell sharply after the technology giant unveiled plans for a massive increase in AI-related spending and fourth-quarter growth in its cloud-computing unit that was slower than rivals ...

Amazon buys satellite communications company in push to compete with Starlink

Amazon moved to buy satellite communications company Globalstar for $10.8 billion on Tuesday in order to compete with Elon Musk’s Starlink service. The announcement demonstrates how the technology ...

Amazon Agrees To Invest Up to $25 Billion in Anthropic In Latest Big Tech AI Tie-Up

Amazon Stock Approaches New All-Time High ...
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Amazon CEO Jassy says company could sell AI chips, raising stakes for Nvidia, AMD

Amazon (AMZN) CEO Andy Jassy released his annual shareholder newsletter on Thursday, outlining the company’s approach to AI and indicating that Amazon is thinking about selling its own AI processors ...
Seattle Times

OpenAI gets $110 billion in funding from a trio of tech powerhouses, led by Amazon

ChatGPT maker OpenAI has received $110 billion in funding from Amazon, SoftBank and Nvidia, putting the technology company’s pre-money valuation at $730 billion. Amazon is leading the trio of tech ...
Los Angeles Times

Amazon becomes a cautionary tale for Big Tech’s AI spending arms race

Amazon.com Inc. may be a leader in the artificial-intelligence race, but investors are increasingly unwilling to pay up for the cost of maintaining that position. Shares of the e-commerce and cloud ...