Reported 12 months ago
Amazon's market cap surpassed $2 trillion, marking a significant milestone, while CFO Brian Olsavsky emphasizes the importance of AI and cost-cutting measures. Under CEO Andy Jassy, Amazon is increasing investments in generative AI for long-term growth, with a notable increase in AWS revenue. Despite recent layoffs and business restructuring to prioritize AI investments, Amazon's financial performance remains strong as it eyes $3 trillion market cap and continues to innovate.
Source: YAHOO