Amazon is the everything-plus-AI store [Reuters]
Microsoft Corporation (MSFT)
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Source: Reuters
NEW YORK, April 30 (Reuters Breakingviews) - Amazon.com is known as the everything store, but investors have thought the description falls flat when it comes to artificial intelligence. While the $1.8 trillion e-commerce giant's valuation has trailed Microsoft , which has plunged into AI, the company is trying to remedy that with spending in the coming year. Its dominance in both data and storage suggests a change in perception may help reality. When it comes to the nuts and bolts, the company led by Andy Jassy is doing just fine. Amazon said on Tuesday that increased 13% year-over-year to $143 billion. Retail sales at its North America division rose 12% to $86 billion and even the international e-commerce division notched positive operating income. And at AWS, the group responsible for the cloud business, growth has reaccelerated: For the three months ending March, revenue rose 17%, better than what analysts' were penciling in, according to LSEG, and faster growth than in the prev
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