Earnings Results
CEO Andy Jassy says DeepSeek’s impact in reducing AI costs ‘is going to be very positive for customers and for our business’
Last Updated: Feb. 6, 2025 at 8:32 p.m. ET
First Published: Feb. 6, 2025 at 4:08 p.m. ET
Shares of Amazon.com Inc. slid after hours on Thursday, after the online-retail and cloud-services giant offered a first-quarter outlook that came up short of Wall Street’s expectations while forecasting bumpy trends in its cloud business and more heavy spending on artificial intelligence.
The forecast arrived as analysts and tech critics try to dig more deeply into Big Tech’s astronomical AI budgets, and after the China-based DeepSeek AI platform rattled stocks last week on claims that it could make the same technology as its U.S. rivals with far less money, chips and energy. The expectations for Amazon’s AMZN large AWS cloud-computing segment followed disappointing cloud growth from some of its rivals.
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