For the full year 2024, Amazon’s net income jumped to $59.2 billion from $30.4 billion in 2023. Photo: Julio Cesar AGUILAR / AFP/FileSource: AFP E-commerce giant Amazon reported strong earnings Thursday but, like its big tech peers Microsoft and Google, saw its stock price fall on concerns over high AI investment costs. The mounting expenses of data-intensive artificial intelligence and its infrastructure have cast a shadow over this earnings season, with only Facebook owner Meta winning Wall Street’s approval. Meta’s stock surged 18 percent in January as investors endorsed its AI strategy. Amazon’s AWS cloud division, along with rivals Microsoft and Google, are investing heavily in AI data centers while meaningful returns remain uncertain. Amazon CEO Andy Jassy defended the spending, saying the company was on track to spend $100
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Intel co-chief executive Michelle Johnston Holthaus says the rise of DeepSeek chatbot could signal opportunity to be a disruptive player in the market for chips that power artficial intelligence. Photo: Pau BARRENA / AFPSource: AFP Intel reported a fourth-quarter loss on Tuesday, but better than expected revenue as the US chip giant continues to struggle to stake its place in the artificial intelligence revolution. The company posted a net loss of $126 million for the quarter ending December 28, compared to a profit of $2.67 billion in the same period last year. Revenue declined seven percent to $14.3 billion, which was slightly better than expected by analysts. The company’s share price rose two percent in after-hours trading following the earnings release. “While Intel’s revenue decline remains concerning, the overall results