U.S. technology company Amazon is funding a water efficiency project in Mexico City, investing US $2.45 million to upgrade water infrastructure in the capital. The initiative, funded by the cloud computing subsidiary Amazon Web Services (AWS), is a “strategic multinational partnership” between Amazon and the Mexico City Ministry for Comprehensive Water Management (Segiagua), according to…
Shares of cloud computing and online retail behemoth Amazon (NASDAQ:AMZN) fell 7.8% in the afternoon session after the company reported disappointing second-quarter results and provided a weak forecast for future growth. The e-commerce and cloud computing giant pointed to slowing growth in its key Amazon Web Services (AWS) division and higher operating costs. Management explained…
Amazon reports a surge in quarterly profits, saying investments in artificial intelligence have begun paying off (Patrick T. Fallon) Amazon reported a 35 percent jump in quarterly profits Thursday as the e-commerce giant said major investments in artificial intelligence began paying off. But the Seattle-based company’s profit outlook for the current quarter came in lower…
Amazon Web Services, the cloud computing division at the e-commerce giant helped power quarterly earnings that beat market expectations (RONNY HARTMANN) Tech giants Amazon, Apple, Meta and Microsoft this week eclipsed earnings expectations, cashing in on artificial intelligence (AI) while navigating economic waters roiled by US tariffs. “Massive results seen by Microsoft and Meta further…
Amazon Web Services (AWS) has joined its US peers Microsoft and IBM in downsizing artificial intelligence research activities in mainland China amid ongoing geopolitical tensions. The company has decided to close its seven-year-old AI Shanghai Lablet due to “China-US strategic realignment”, according to Wang Minjie, the facility’s chief applied scientist, in an announcement posted on…
(Bloomberg) — Aggressive spending on artificial intelligence is mostly being rewarded in the stock market these days. But when it comes to Amazon.com Inc., not so much. Most Read from Bloomberg Amazon’s shares have gained about 3% this year despite the company’s heavy outlays on AI, which it is touting as a path to greater…
By Greg Bensinger SAN FRANCISCO (Reuters) -Amazon cut at least hundreds of jobs in its Amazon Web Services cloud computing unit on Thursday, two sources said, just a month after CEO Andy Jassy warned that adoption of generative AI tools would trigger a workforce reduction. An Amazon spokesperson confirmed it had cut jobs but did…
Nvidia is currently the most valuable company in the world with a market capitalization of nearly $4 trillion. While Microsoft trails Nvidia by a small margin, both companies are facing rising competition in their core businesses — making future growth less predictable. Amazon is still in the early phases of integrating artificial intelligence (AI) across…
Hong Kong prides itself on transparency, caution and adherence to the rule of law. Policy proposals undergo scrutiny and seek to strike a balance between legal, social and public interests. However, in an era of increased public scrutiny, the optics of governance often overshadow its true purpose or public benefit. This is frequently the case…
An H&M store in New York City on Nov. 19, 2024. Charly Triballeau | AFP | Getty Images When Gilberto Loureiro spent summers working in a textile factory as a teenager growing up in Portugal, he discovered that he felt “hate and love” for how clothes were produced. The work was tough: Loureiro’s job was…