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Amazon, Now Worth $2 Trillion, to Invest $100B in AI and Cloud Data Centers

Jul 1, 2024, 08:06 AM

Amazon, now the fifth-ever U.S. company to reach $2 trillion in market value, is planning to spend more than $100 billion over the next decade on data centers, focusing on AI and cloud computing. This investment marks a significant shift for the tech giant, which is known for its substantial spending on retail warehouses. The move comes as Amazon faces heightened competition from Microsoft in artificial intelligence services. Additionally, Amazon will double the value of credits it offers some startups to use its cloud infrastructure, CNBC has learned.