Amazon (AMZN) CEO Andy Jassy says that artificial intelligence (A.I.) revenue from the company’s cloud business exceeded $15 billion U.S. in this year’s first quarter.
Jassy’s comments are the company’s first disclosure of direct financial returns from it’s A.I. investments.
The CEO noted the $15 billion U.S. figure in his annual letter to shareholders and added that the number is “ascending rapidly.”
Jassy said that Amazon’s cloud business as a whole will grow even faster as A.I. technologies advance and improve.
In the shareholder letter, Jassy also said that the annual revenue run rate for Amazon’s microchip business, which produces Trainium processors, is now over $20 billion U.S.
That’s double the $10 billion U.S. the company reported earlier this year.
“There’s so much demand for our chips that it’s quite possible we’ll sell racks of them to third parties in the future,” wrote Jassy.
AMZN stock has risen 15% in the last 12 months to trade at $221.25 U.S. per share.
Tech Insider
