Amazon's blowout $200 billion AI spending plan stuns Wall Street

Amazon CEO Andy Jassy

Fortune via Reuters Connect

• Amazon plans $200 billion in capex this year, far more than Wall Street expected.
• AWS revenue growth picked up, but Amazon's profit forecast was a little light.
• The company's stock slumped more than 10% after the results.

Amazon said Thursday it plans a staggering $200 billion in capital expenditures this year, sparking concern that the AI spending boom has entered an even more bubbly stage.

The company's...