Amazon says will spend over $100 bn on cloud and AI in 2025

Amazon CEO Andy Jassy said Thursday the e-commerce giant was on track to invest more than $100 billion on cloud computing and artificial intelligence in 2025, as the high cost of AI becomes a growing concern on Wall Street.

Jassy told analysts on an earnings call that Amazon spent $26.3 billion in the final quarter of last year on capital investments "and I think that is reasonably representative of what you expect (as) an annualized capex rate in 2025."