Amazon said Thursday it plans to boost its capital expenditures to $100 billion in 2025, as it continues its spending spree on AI services.
Amazon said it plans to boost capital expenditures to $100 billion in 2025, largely driven by AI investments.Amazon CEO Andy Jassy speaks during a keynote address at AWS re:Invent 2024, a conference hosted by Amazon Web Services, at The Venetian Las Vegas on December 3, 2024 in Las Vegas, Nevada.said Thursday it plans to boost its capital expenditures to $100 billion in 2025, as it continues its investments in artificial intelligence."We spent $26.
Jassy tried to reassure investors on the call that the jump in spending will be worthwhile, calling it a "once-in-a-lifetime type of business opportunity." "I think that both our business, our customers and shareholders will be happy, medium to long-term, that we're pursuing the capital opportunity and the business opportunity in AI," Jassy said. "We also have capex that we're spending this year in our stores business, really with an aim towards trying to continue to improve the delivery speed and our cost to serve."
Tech companies are facing fresh skepticism of their AI spending plans after the early success of Chinese AI startup DeepSeek. The lab claims it only took two months and less than $6 million to develop its R1 model, which it says rivals OpenAI's o1.
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