Amazon CEO Andy Jassy urges companies to invest heavily in AI

Amazon CEO Andy Jassy thinks companies should invest “aggressively” in AI now to reap the full financial rewards in the future. In his annual letter to Amazon shareholders published Thursday, Jassy said “substantial capital” is required to keep up with the pace of AI innovation and customer demand for AI products. He added that Amazon, too, needs to spend this money now if it hopes to see strong returns on its investment years down the line. Jassy’s comments come after Amazon announced plans during its fourth-quarter earnings call in February to spend more than $100 billion on capital expenditures in 2025. The “vast majority” of that sum will be put toward AWS AI capabilities, said Jassy at the time. “We continue to believe AI is a once-in-a-lifetime reinvention of everything we know,” Jassy wrote in his shareholder letter. “The demand is unlike anything we’ve seen before, and our customers, shareholders, and business will be well-served by our investing aggressively now.” Jassy sa ... Read full article.