CNBC May 23, 2024
Annie Palmer

Key Points

– Adam Selipsky’s departure from Amazon Web Services, announced last week, comes as the cloud unit faces heightened competition from companies rolling out artificial intelligence services.

– Gil Luria, an analyst at D.A. Davidson, told CNBC that Amazon was “caught flat-footed” by the generative AI boom.

– Matt Garman, an AWS veteran, was named Selipsky’s successor last week.

In May 2023, Amazon CEO Andy Jassy was asked by an attendee at the annual shareholder meeting how the company was innovating in generative artificial intelligence. OpenAI’s ChatGPT had gone viral, and the major tech companies were all rushing products out the door to compete in the emerging world of chatbots and image generators.

Jassy responded to the question by...

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