CNBC February 1, 2024
Key Points
– Amazon Web Services was more profitable in the quarter than analysts had predicted, while the segment’s revenue was in line.
– During the quarter, AWS expanded its Nvidia relationship while also introducing an artificial intelligence training chip.
Amazon said on Thursday that its cloud division grew revenue 13% year over year in the fourth quarter, exactly in line with analysts’ projections. The company pointed to growing traction in cloud services for artificial intelligence.
Many large technology companies have worked quickly to release new products or update existing ones to capitalize on corporate interest in replicating generative AI capabilities after startup OpenAI introduced the ChatGPT chatbot in late 2023. Amazon Web Services, for its part, introduced the Q...
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