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Andy Jassy said Amazon’s
massive spending on artificial intelligence isn’t something investors should fear — it’s exactly why they’ll be rewarded over time.
“We believe that AI is the biggest technology transformation in our lifetimes,” the CEO said on “Mad Money.” “It’s going to reinvent every single customer experience we know and altogether new ones we never imagined.”
In February, Amazon announced plans to invest $200 billion this year in capital expenditures, largely tied to AI infrastructure. The disclosure alongside fourth-quarter earnings sent sent shares tumbling. It took roughly two months for the stock to erase all of its post-earnings declines in early April. It has kept climbing higher since then, setting a new record close Monday.
