Amazon CEO Andy Jassy tried to calm concern about AI cloud competition. Wall Street isn't buying it.
On Thursday, Amazon CEO Andy Jassy scrambled to calm investor concerns over growth at the company's cloud and AI business. Wall Street wasn't buying it.Jassy fielded tough analyst questions about AWS growth and its position in the AI race. The stock tumbled 7% in after-hours trading, weighed down by disappointing profit guidance and Jassy's vague responses on AI. During the call, Jassy was asked about rival companies' "significantly faster cloud growth." AWS reported revenue growth of 17%, a far slower ra ...