Amazon Plans Big Spending on AI
Amazon reported strong sales this week. The company plans to spend $200 billion this year.
This covers AI work. It also covers satellites.
The $200 billion was far more than investors expected. Investors were nervous about the huge spending plans.
Amazon shares dropped 7% after the news. Amazon ramped up its AI work over the past year.
Klear Note — AI is technology that learns and makes decisions like humans. Big tech companies spend billions on AI to stay competitive.
Key Terms 1
- AI Short for artificial intelligence. Computer systems that learn and make decisions like humans.