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Amazon's stock rose about 8% ahead of its earnings report following positive reports from Google and Microsoft related to cloud services. AWS is a significant part of Amazon's sales and operating income. Amazon CFO mentioned a significant increase in CapEx to support AWS infrastructure and generative AI efforts.
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$AMZN CFO on Capex trends: "...we will be meaningfully stepping up our CapEx, and the majority of that will be to support AWS infrastructure & specifically generative AI efforts...in Q1, we had $14B of CapEx, we expect that to be the low quarter for the year"
$AMZN CFO on Capex trends: "...we will be meaningfully stepping up our CapEx, and the majority of that will be in our data support AWS infrastructure & specifically generative AI efforts...in Q1, we had $14B of CapEx, we expect that to be the low quarter for the year"