S&P 500, Nasdaq end higher on Amazon-OpenAI deal
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AWS added more than 3.8 gigawatts of power in just the last 12 months. That's more than any other cloud provider. Amazon's cloud unit now has double the power capacity that it had in 2022. It's on pace to double the power capacity again by 2027.
Shares of Amazon (NASDAQ: AMZN) rallied 11.2% in October, according to data from S&P Global Market Intelligence. Amazon's stock actually struggled through most of the month, as heightened tensions between the U.S. and China caused tech investors to take some risk off the table after a strong run.
If AI proves inefficient, will companies need to rehire the talent they let go? Amid a flurry of tech industry layoffs, Amazon’s recent culling of some 14,000 staff stands out for one dramatic reason: It was blamed,
The e-commerce giant sent a nasty cease-and-desist letter to Perplexity, accusing it of "computer fraud" in violation of its policies.
The job cuts come as Amazon CEO Andy Jassy has said he envisions the company relying on AI agents to replace human workers.
Andy Jassy explains Amazon’s 14,000 layoffs, buying Nvidia chips, upcoming Trainium3 AI chips, AWS capacity and sales growth, and its Bedrock AI agent platform.
Amazon sent a cease-and-desist letter to Perplexity last week for using its Comet browser to access the e-commerce site.
Amazon has faced pressure from investors to tighten its finances as it spends big on the AI race. The company says it will cut 14,000 jobs, citing a goal of "reducing bureaucracy, removing layers."
On Tuesday, Amazon laid off 14,000 employees in an effort to improve operations by removing layers of bureaucracy, according to a company announcement posted by Senior Vice President of People Experience and Technology, Beth Galetti.
Amazon.com Inc's announcement this week that it would be rolling out AI-powered cameras in its branded delivery vans for safety has drawn criticism from privacy advocates and workers concerned with being subjected to surveillance on the job.