Amazon is spending less on warehouses — and more on AI and its cloud business
Amazon is doubling down on investing in artificial intelligence as it spends less on warehouses and other parts "On our core fulfillment and in transportation areas, we actually are spending less year-over-year, and those estimates are going down," said Brian Olsavsky, Amazon's chief financial officer, in a call with analysts on Thursday."And we are adding more dollars for large language models and generative AI.
The company spent some $58.3 billion in capital expenditures last year, according to Amazon's 2022 annual report, which noted that the amount showed the company's emphasis on developing its"technology infrastructure." "If you look at the really significant leading large language models, they take many years to build, and many billions of dollars to build," he told analysts Thursday."And there will be a small number of companies that want to invest that time and money, and we'll be one of them at Amazon."
Referencing Amazon's voice assistant device Alexa, he said,"we've had a large language model underneath it, but we're building one that's much larger and much more generalized and capable."
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