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Amazon's AI Ambitions Help Fuel Q1 Earning Surge
AmazonAmazon(US:AMZN) PYMNTS·2024-05-03 01:31

Amazon reported strong financial results for the first quarter of 2024, as the company doubles down on its artificial intelligence (AI) initiatives and sees a resurgence in its cloud computing division, Amazon Web Services (AWS).The eCommerce giant’s net sales increased 13% year-over-year to 143.3billion,whileoperatingincomejumpedto143.3 billion, while operating income jumped to 15.3 billion from 4.8billioninthesameperiodlastyear.AWSnetsalesroseyearoveryearto4.8 billion in the same period last year. AWS net sales rose year-over-year to 25 billion from $21.4 billion.Generative AI Takes Center StageAmazon’s ...