Amazon’s Jassy: We’re ‘surprised’ at growth of our generative AI business

AXIOS October 26, 2023
Hope King

Amazon CEO Andy Jassy said Thursday night that he’d been “surprised” at the growth of the company’s generative AI business over the last few months.

Why it matters: He made the comments during an analyst call following the release of Amazon’s third quarter earnings, which revealed that businesses are still cautious about overall spending on cloud services.

• “We’re still seeing elevated customer optimization levels … but it’s meaningfully attenuating from where we’ve seen the last few quarters,” said Jassy.

Back it up: Companies have been cautious about spend since last year amid recession fears. (The U.S. economy grew at its fastest pace in nearly two years in Q3.)

• Amazon’s cloud business — Amazon Web Services — is...

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