Amazon’s Ad Revenue Grew 22% Over the Past Year, but Capex Spending Balloons

“It’s kind of unbelievable if you look at the demand of what you’re seeing already with AI, but the lion’s share of that demand is still yet to come,” Jassy said. “It will come as you have more and more companies with AI talent, as more and more people get educated with that AI background, as inference continues to get less expensive—that’s a big piece of what we’re trying to do with with Trainium and our hardware strategy.”