Online retail giant Amazon plans to invest more than $100 billion in cloud services and artificial intelligence this year, company CEO Andy Jassy said on Thursday.
Amazon spent more than $26 billion on investments in the last quarter of the year, and Jassy says capital spending will continue at the same level this year.
Amazon’s year-end profit nearly doubled to $20 billion from the same period last year. The October–December result was boosted by strong Christmas sales.
According to analysts, the outlook for the coming quarter is weaker.