• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Current price of oil as of June 11, 2026

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Current price of oil as of June 11, 2026
TechAmazon

Andy Jassy summed up Amazon’s A.I. game plan: Every single business unit has ‘multiple generative A.I. initiatives going on’

Rachyl Jones
By
Rachyl Jones
Rachyl Jones
Down Arrow Button Icon
Rachyl Jones
By
Rachyl Jones
Rachyl Jones
Down Arrow Button Icon
August 3, 2023, 8:23 PM ET
Amazon CEO Andy Jassy.
Amazon CEO Andy Jassy.Thos Robinson/Getty Images for The New York Times

Jeff Bezos founded Amazon as a retail company. But to hear CEO Andy Jassy talk, Amazon’s future lies in artificial intelligence.

Recommended Video

“Every single one of our businesses inside of Amazon, every single one, has multiple generative A.I. initiatives going on right now,” Jassy said during the company’s quarterly earnings call on Thursday.

That includes Amazon’s retail stores, its online advertising business, its streaming entertainment business, its cloud business, and its consumer electronics business. “You can just imagine what we’re working on with respect to Alexa,” Jassy teased, referring to the virtual assistant that powers Amazon’s Echo devices. Generative A.I. is “going to be at the heart of what we do.” 

A.I. is dominating the conversation this earnings season. Executives at Alphabet, Meta, and Microsoft all mentioned the buzzword dozens of times during their respective calls with investors, Fortune previously reported. While these companies have been developing A.I. technologies for years, OpenAI’s launch of ChatGPT in November 2022 triggered a race to release competitive chatbots and prove to investors they are leaders in the A.I. space. 

Amazon’s broad menu of businesses, which ranges from the Whole Foods supermarket chain to digital advertising, means that the company has plenty of places to insert A.I. technology that could save costs or provide new customer experiences.

Amazon’s stock was up roughly 9% after hours on Thursday following the release of quarterly financial results that topped analyst expectations. Amazon’s net sales increased 11% year over year to $134 billion, driven by 22% revenue growth in its advertising business, 14% growth in subscription services, and 12% growth in its AWS cloud business,.

Amazon’s cloud business launched A.I. services Bedrock and Titan in April. It intends to build a business providing large language models to companies that don’t want to spend the time and money building their own. Bedrock allows third parties to take Amazon’s model, Titan, and customize it for their own needs. Amazon also provides the chips necessary to train and run the A.I. models. For companies that build their own chatbots, Jassy said he hopes they will create them using AWS, which brings Amazon more business. 

In its 15-page letter to investors breaking down the numbers, Amazon mentioned A.I. 16 times, which is more than it brought up Prime Video. In the letter from the same quarter last year, A.I. only came up twice.

Despite Amazon’s increased investment in A.I., Jassy tried to temper expectations. “We are a few steps into a marathon,” he said. While he is seeing “quite a bit of demand” for its products, the company will have to spend more on data centers and hardware before it translates into a major financial payoff from A.I., he said.

About the Author
Rachyl Jones
By Rachyl Jones
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Notion takes a quiet approach to designing AI features: ‘You can’t have every new tool screaming at you’
AsiaAI agents
Notion takes a quiet approach to designing AI features: ‘You can’t have every new tool screaming at you’
By Angelica AngJune 12, 2026
1 hour ago
Your AI is already setting prices. The real question is who sets the rules
AIAutomation
Your AI is already setting prices. The real question is who sets the rules
By François Candelon, Paul-Louis Andres and Augustin ManchonJune 12, 2026
1 hour ago
A person holds an iPhone as someone next to them points at the screen.
EconomyApple iPhone
You can blame America’s plummeting fertility rate on the iPhone, study finds: ‘People are all depressed and alone and doomscrolling’
By Sasha RogelbergJune 12, 2026
3 hours ago
SpaceX’s IPO could be largest in history. Here’s how it compares to previous record-holders
Startups & VentureSpaceX
SpaceX’s IPO could be largest in history. Here’s how it compares to previous record-holders
By Mia OsmonbekovJune 12, 2026
4 hours ago
Why is it so hard to get ROI from AI? Because building from first principles isn’t easy
NewslettersEye on AI
Why is it so hard to get ROI from AI? Because building from first principles isn’t easy
By Jeremy KahnJune 11, 2026
11 hours ago
SpaceX lowballed its bankers on fees. Goldman Sachs has another way to win big
Startups & VentureFinance
SpaceX lowballed its bankers on fees. Goldman Sachs has another way to win big
By Shawn TullyJune 11, 2026
12 hours ago

Most Popular

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
2 days ago
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
3 days ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
21 hours ago
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
Innovation
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
By Amanda GerutJune 9, 2026
2 days ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
4 days ago
SpaceX's record IPO has Wall Street torn between a Musk 'holy grail' and a $135-per-share leap of faith
Startups & Venture
SpaceX's record IPO has Wall Street torn between a Musk 'holy grail' and a $135-per-share leap of faith
By Marco Quiroz-GutierrezJune 11, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.