Amazon poured more than $77 billion into property and equipment during the third quarter to aggressively build out data centers.
While Amazon Web Services (AWS) accelerated for its sixth consecutive quarter, fueled by AI giants like OpenAI and Anthropic, core online retail sales crawled by just 2% to $68.5 billion.
Amazon expects fourth-quarter revenue between $240 billion and $247 billion, slightly lower than the average $247.5 billion analysts polled by Fiscal.ai expected.
Amazon.com Inc.(AMZN) share price dropped about 7% after-hours on Thursday after the e-commerce giant reported third-quarter capital expenditures that heavily outpaced Wall Street projections, underscoring investor anxiety that the AI buildout might not transform into adequate revenue.
The company stated that it spent upwards of $77 billion on property and equipment over the quarter ending September, primarily channeled into constructing new data centers and…
https://finance.yahoo.com/markets/stocks/articles/amzn-stock-drops-7-ai-220423844.html
