April 9 (Reuters) – Amazon’s AI services at its cloud-computing unit are generating annualized revenue of more than $15 billion, CEO Andy Jassy said, the first time the company has reported numbers on a business it has backed with billions of dollars in investment.
The figure, based on first-quarter performance, represents roughly 10% of Amazon Web Services’ $142 billion revenue run rate and follows years of wait from investors and analysts.
The disclosure was one of several Jassy made on Thursday in his annual shareholder letter that sketched an increasingly confident portrait of the technology giant’s AI ambitions.
Amazon shares were up 1.5% in premarket trading.
Like rivals, Amazon is under pressure to prove its spending on AI would pay off. The e-commerce giant predicted in February its capital outlay would total $200 billion this year, mainly focused on AI development and infrastructure, a figure that spooked investors and fanned worries about…
https://finance.yahoo.com/sectors/technology/articles/amazon-says-annual-revenue-run-101958790.html
