Amazon shares rose 5% in after-hours trading on Thursday after third-quarter earnings beat analyst expectations. AWS posted revenue slightly below estimates but grew 19%, trailing rivals Microsoft and Google Cloud. For AI investments, capital expenditures jumped over 80% to more than $22 billion. Amazon CEO Andy Jassy announced plans for $75 billion in capital expenditures for 2024, largely driven by investments in generative AI, with the potential for higher spending in 2025. He described the investment as a once-in-a-lifetime opportunity that shareholders will appreciate long-term.
