Amazon’s first-quarter sales soared with a significant boost from artificial intelligence, the retail giant announced on Tuesday. The company reported a surge in revenue to $143.3 billion, up 13% from the same period last year, surpassing Wall Street expectations.
Amazon attributed this growth to its continued focus on artificial intelligence, with CEO Andy Jassy highlighting the reacceleration of Amazon Web Services (AWS) thanks to AI technologies. AWS revenue increased by 17% year-over-year to reach $25 billion in the first quarter.
Apart from AI, advertising sales also experienced a notable increase of 24% to $11.8 billion, following the company’s expansion of advertising initiatives, including the introduction of ads on Prime Video earlier this year.
Furthermore, Amazon recently announced plans to invest $11 billion in building new data centers in Indiana, a move expected to create at least 1,000 jobs in the state. The company also extended its partnership with chip manufacturer Nvidia to enhance its AI offerings.
Overall, Amazon’s strong financial results signal a promising start to the year, marked by improvements in customer experience and robust revenue growth, driven largely by investments in artificial intelligence and advertising.
The company’s continuous innovation in AI technologies and strategic partnerships are positioning Amazon for sustained success moving forward.
