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The Latest Breaking News from Andy Jassy

Amazon Triples Quarterly Profit As Cloud Surges

E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived.

International Business Times

Amazon's Grocery Push Takes 'Step Forward' With New Subscription Option

A new subscription option for Prime members marks an "important step" for Amazon's grocery strategy, according to one analyst.

Investors Business Daily

AWS retires Snowmobile data in a lorry scheme

Amazon pulls its Snowmobile cloud migration truck off the road, citing inefficiencies compared with modern solutions.

TechRadar

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Amazon CEO says GenAI may be the biggest technology transformation since the cloud

Amazon CEO Andy Jassy says Generative AI is the next digital revolution, and it’s being likened to the cloud but with a far easier transition.

TechRadar

Amazon Eyes $2 Trillion Market Cap as CEO Talks AI, Cost Cuts

Amazon CEO Andy Jassy thinks there’s "a long way to go" in all of its businesses and that could be good for investors.

Kiplinger

From iRobot To Antitrust Battles: Amazon CEO Speaks Out On Regulatory Challenges

Amazon CEO criticizes regulatory obstacles, lamenting the fallout from the failed iRobot acquisition and calling for a more balanced approach.

International Business Times

Amazon Notches First Record Close Since 2021 As Chief Executive Touts AI

Amazon leader Andy Jassy said the tech giant will continue investing in AI. Meanwhile, Amazon stock is nearing new highs.

Investors Business Daily

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Dow Jones Lower Despite PPI Inflation Relief; Nvidia, Microsoft Price Targets Raised

The Dow fell after initially rising on the PPI inflation report on the stock market today. Analysts hiked Microsoft and Nvidia price targets.

Investors Business Daily

Up 19% YTD, How High Can Amazon Stock Go in 2024?

Amazon stock has continued its good run in 2024, and is already up 19% for the year. The stock could still rise from these levels, given its reasonable valuations and strong earnings outlook.

Barchart

Amazon Is The Cloud King. AI Could Change That.

Amazon stock bolted 11% higher in two days this month. But its profit-driving AWS business faces formidable challengers.

Investors Business Daily

AWS sees another record year for Amazon as AI push drives cloud growth

A big year for generative AI saw Amazon Web Services post considerable revenue increases once again.

TechRadar

Amazon enjoyed a strong Q4 thanks to record-breaking holiday sales

Amazon released its Q4 earnings for 2023, and it looks like it had a great closing for 2023.

Android Central

Amazon's Andy Jassy calls predecessor Jeff Bezos the ‘most unusual business leader of our era’

Jassy took over for Bezos in July 2021, inheriting overzealous plans he’s worked to scale back.

Fortune

Amazon's hundreds of reported job cuts show the tech giant bit off more than it could chew with streaming and movies

Amazon cuts jobs in its entertainment divisions as it undergoes a reckoning with its media business.

Fortune

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Android Central

Amazon ended 2022 on a high note as it sheds thousands of employees

Amazon announced its Q4 2022 financial earnings, beating expectations and putting a fairly positive spin on a challenging economic period.

Fortune

Britain’s richest businesswoman—who earns more than Sundar Pichai—sees salary rise to $280M

The filing reveals the businesswoman is paid more than the prime minister of Britain.

Fortune

2024 will be the ‘year of AI’ as tech stocks surge by (at least) 25%, top tech analyst Dan Ives predicts

A Wedbush AI survey shows Wall Street is “significantly underestimating how quickly this AI monetization cycle is playing out,” according to Ives.

Fortune

Walmart customers behaving so strangely it's making bosses ‘sit up in their chairs’

Walmart CFO John David Rainey said the spending for the last two weeks of October was particularly "puzzling" when compared to prior months.

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Fortune

Jeff Bezos moved from Seattle to Miami—and he could take some of Amazon with him

Amazon is reportedly looking for office space in the city.

The Independent UK

Amazon ‘blocks promotions’ for staff who do not return to office three days a week

The company’s back-to-office push was announced in February this year

Fortune

CEOs say remote work is a disaster for productivity. Goldman’s chief economist says that can't explain the last 15 years

An NYU economics professor shocked the profession by arguing that “total factor productivity” is linear, not exponential. Jan Hatzius says he's got a point.

Fortune

Amazon's big Bedrock bet

Amazon is developing its own generative AI model, but its AWS cloud business is betting that customers want to experiment with a mix of different models.

Barchart

Amazon Stock Pops After Q3 Beat: Here’s Why It's Still a Strong Buy

Amazon stock is trading higher today after posting better-than-expected Q3 earnings. Here are the key takeaways from the report, and why AMZN is still a good buy.

Fortune

Amazon managers can now sack employees who won’t work from the office 3 days a week

“Continued non-compliance” with the tech giant’s return-to-office mandate could land employees in hot water, according to Amazon’s new management guidelines.

Fortune

LVMH boss Bernard Arnault has just lost his spot as the world’s second-richest person to Amazon founder Jeff Bezos

LVMH CEO Bernard Arnault has seen his wealth overtaken by that of Amazon founder Jeff Bezos.

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