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The Latest Breaking News from Andy Jassy

Amazon Posts Q2 Figures: Revenue Up 11% YoY To $134.4 Billion, Beating Estimates

Operating income totals $7.7 billion, up from $3.3 billion in Q2 2022; operating cash flow increases 74% YoY to $61.8 billion.

Zenger

Andy Jassy summed up Amazon's A.I. gameplan: A.I. everywhere

During the online retail giant's earnings call, CEO Andy Jassy outlined a broad vision for A.I.

Fortune

Amazon reports positive Q2 2023 earnings, rides high on AWS and ads

Amazon reported $134.4 billion in revenue for Q2 2023 earnings. The company expects additional growth for Q3 2023.

Android Central

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Amazon exec says it’s time for RTO: ‘I don’t have data to back it up, but I know it’s better’

“We’re here, we’re back. It’s working,” Mike Hopkins, Amazon Studios head, said in a meeting, before acknowledging a lack of evidence.

Fortune

Amazon may have met its match in the grocery aisles

Amazon laid off workers at its brick-and-mortar grocery stores last week — the latest sign of the e-commerce giant's struggles to stand out in the competitive grocery landscape.

WEKU

Amazon CEO Andy Jassy dismisses Microsoft and Google A.I. ‘hype cycle,’ says Amazon has a ‘substance cycle’

Amazon’s A.I. strategy is to turn itself into a major player across the entire A.I. supply chain.

Fortune

Amazon CEO Andy Jassy On Chinese Competition, Prime Day And More

E-Commerce behemoth Amazon

Zenger

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Has Amazon Stock Peaked? - Not if You Believe Its CEO Who Says Amazon Is Focused on AI

Amazon stock may not have peaked if you believe Andy Jassy who believes its AI chips give it an advantage over competitors. One way to play this is to short out-of-the-money puts for income.

Barchart

Amazon intends to invest $15 billion more in India, says CEO Andy Jassy

‘We have invested $11 billion in India till date and intend to invest another $15 billion, which will bring the total to $26 billion. So we are very much looking forward to future of partnering,’ said the Amazon CEO

The Hindu

WFH triumphs over RTO: A third of Americans continue to work from home

Despite many executives’ attempts to get workers back at their desks, remote work remains a fixture of the workforce.

Fortune

Bernie Sanders launches investigation into working conditions at Amazon

Senator seeks information about ‘systematically underreported’ injury rates and turnover at US’s second-largest employer

The Guardian - US

Balancing Profitability And Entertainment: Amazon Considers Launching Ad-Supported Prime Video Tier

Advertisers expressed interest in Amazon offering an ad tier for Prime Video service, likely to inspire other streaming platforms

Zenger

Wall Street analyst tells Amazon CEO to go back to basics in brutal letter

Bernstein analyst Mark Shmulik has ripped apart Amazon’s plans for broadband and health care, saying the business needs to focus on areas which are guaranteed wins.

Fortune

Amazon is unfazed by remote workers protesting its return-to-office mandate: ‘There’s more energy, collaboration, and connections happening’

"It’s going to take time to adjust back to being in the office more," a spokesman said after a walkout this week.

Fortune

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Tribune News Service

Amazon’s answer to ChatGPT seen as incomplete

Amazon.com Inc.’s cloud customers are clamoring to get their hands on the ChatGPT-style technology the company unveiled six weeks ago. But instead of being allowed to test it, many are being told to sit tight, prompting concerns the artificial intelligence tool isn’t fully baked.

Fortune

Amazon corporate staff to walk out in protest over return-to-office mandate. ‘Morale feels like it’s at an all-time low’

Amazon says the company and its staff have had “a great few weeks” since workers were required to be in the office three days a week.

Tribune News Service

Amazon COVID-19 changes and CEO's anti-union comments broke law, Labor Board alleges

Amazon.com Inc. repeatedly violated federal labor law by unilaterally changing policies and terminating union supporters at its sole unionized warehouse, US labor board prosecutors alleged in a complaint, which also accuses Chief Executive Officer Andy Jassy of personally making illegal anti-union comments.

Fortune

Bill Gates says the winner of the A.I. race will be whoever creates a personal assistant

Gates also said search engines will lose their relevance once consumers can access A.I. personal agents en masse.

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Al Jazeera

Is ‘shareholder supremacy’ driving the layoffs in tech?

Listed firms put their shareholders first when making decisions even if it leaves employees susceptible to job cuts.

Zenger

Andy Jassy Thinks AI Can Save Amazon’s Troubled Cloud Business

Amazon's AWS is equipped with AI that can help daily businesses that use it for data purposes helping it's cloud business.

Fortune

Amazon slowed hiring and conducted layoffs in its HR team

Amazon is shifting investments to its noncore businesses and international expansion after slowing e-commerce sales and layoffs.

Fortune

Amazon Web Services rolls out new hiring restrictions

In a leaked memo, AWS tells hiring managers about new constraints in place to control headcount growth.

Bangkok Post

Amazon's cloud comment jolts investors

Amazon.com Inc signalled on Thursday its long lofty cloud growth would slow further as its business customers braced for turbulence and clamped down on spending, overshadowing the company's quarterly sales and profit that topped expectations.

Fortune

A wave of A.I. spending could revive Amazon's sputtering cloud growth

Amazon CEO Andy Jassy is vying for A.I. customers to bring their processing power to AWS.

The Guardian - US

Amazon beats expectations in first quarter earnings as shares jump 11%

E-commerce behemoth, in the midst of aggressively cutting costs including laying-off 27,000 workers, reported revenue growth

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