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Amazon plunges 9%, continues Big Tech’s $1 trillion wipeout as AI bubble fears ignite sell-off
Amazon plans to increase capital expenditures to $200 billion in 2026, focusing on AI and AWS, while cutting up to 30,000 jobs globally to streamline operations.
- Amazon shares plunged more than 11% on Thursday as the company boosted spending estimates despite strong sales.
- Amazon reported a profit of $21.2 billion on net sales of $213.4 billion in the recently ended quarter, with its cloud computing unit AWS seeing a 24% jump in sales to $35.6 billion.
- Amazon is making massive investments in artificial intelligence, including an AI shopping assistant called 'Rufus', and expects to invest about $200 billion in capital expenditures across the company in 2026.
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32 Articles
Amazon shares tumble as $200B AI spending spree rattles investors
Amazon on Thursday projected a surge of more than 50% in capital expenditures this year, joining its peers in a spending spree to build out artificial-intelligence infrastructure, and sending its shares down 9% in after-hours trading.
·New York, United States
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Amazon surpasses its tech rivals in investment: this year, the trading giant wants to invest around $200 billion in AI, chips, robotics and satellites, among other things. Investors find it difficult to digest.
Coverage Details
Total News Sources32
Leaning Left3Leaning Right6Center9Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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