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
Tag Archives: TechIndustry
Jan
Chinese artificial intelligence (AI) start-up DeepSeek has gone quiet this week as it enters “holiday mode” for Lunar New Year while its recent technological developments continue to send shock waves through Wall Street and Silicon Valley, prompting reflections about current industry strategies and business models. DeepSeek’s rapid rise in AI has attracted attention across the Pacific this week with comments from US President Donald Trump and OpenAI co-founder and CEO Sam Altman, after stocks related to the industry saw significant declines on Monday. The correction resulted in the largest single-day loss ever for semiconductor giant Nvidia . Yet the Hangzhou-based start-up, including founder Liang Wenfeng and the firm’s young scientists, has shunned public attention as China entered its week-long Lunar New Year holiday. The company made its last update at