Amazon set to join Big Tech's spending surge as AI race heats up

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Amazon set to join Big Tech's spending surge as AI race heats up - Channel News Asia

Quick Summary:

Amazon.com is expected to join Google and Microsoft on Thursday in reporting a surge in capital spending on artificial intelligence as Big Tech companies rush to capitalize on the booming technology.

But, Morgan Stanley analysts said: "AWS needs to grow 18 per cent+ in order to ...ensure investors of AWS's (AI) positioning and its ability to generate high-teens growth through this heavy capex investment period".

In response, Amazon has partnered with the likes of Anthropic and offered startups free credits that cover the cost of using major AI models to boost the market share of its AI platform Bedrock.