Demand for artificial intelligence bolstered sales growth in Amazon’s cloud computing division at the start of the year, the company said on Tuesday, as executives laid out plans to spend huge sums to support the fast-growing technology.
The acceleration in sales at Amazon Web Services, a critical profit driver for the ecommerce group, came as businesses spent more on cloud computing services, including new generative AI tools. Overall, AWS is “now at a $100bn annual revenue run rate”, said chief executive Andy Jassy.
AWS sales rose 17 per cent year on year to $25bn during the first three months of 2024, ahead of forecasts for $24.5bn and faster than the 13 per cent rise recorded in the previous quarter.
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