Tech giant reports $213bn in revenue after its founder, who owns the Post, lays off a third of newspaper’s employees
Amazon announced plans to spend $200bn on artificial intelligence and robotics this year, the latest tech giant to vow fresh enormous investments in the artificial intelligence arms race.
The news of the investment comes one day after the Washington Post, owned by Amazon founder Jeff Bezos, announced it was cutting approximately a third of employees.
Amazon also reported $213bn in revenue on Thursday. The fourth quarter earnings of the ecommerce and cloud computing giant came in slightly below Wall Street estimates even as sales and growth surged.
Amazon will increase capital spending to $200bn this year from $125bn, CEO Andy Jassy said in a press release. Wall Street analysts were expecting spending to rise to around $147bn, according to FactSet.
