Amazon sees 50% boost to capital spending this year, shares tumble

Amazon on Thursday projected a surge of more than 50 per cent in capital expenditures this year, joining its peers in a spending spree to build out artificial-intelligence infrastructure, and sending its shares down 11.5 per cent in after-hours trading.

As the shares sputtered on news that Amazon would be pumping $200 billion into boosting its AI efforts in 2026, CEO Andy Jassy struck a defensive tone during the company’s call with investors, a contrast to the more self-assured Alphabet...