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Capital spending soars in the cloud as Microsoft, Google, and others bet big on AI demand

GeekWire

were the first to be powered by the company’s Azure Cobalt 100 CPU, as part of a broader cloud infrastructure buildout. The Seattle angel investor and tech veteran has made a tradition of tracking capital expenditures on his blog, Platformonomics , to “separate the clouds from the clowns,” as he puts it.

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Google Cloud posts second straight profitable quarter on 28% revenue growth

GeekWire

A sign inside the Google Cloud campus in Seattle’s South Lake Union neighborhood. GeekWire File Photo / Todd Bishop) Google Cloud boosted its operating profits to $395 million for the second quarter, a improvement of close to $1 billion from its loss of $590 million in the same quarter a year ago.

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Amazon pours up to $4B into AI startup Anthropic, escalating rivalry with Microsoft and Google

GeekWire

The investment and expanded partnership includes a commitment by Anthropic to make Amazon Web Services its main cloud provider. The startup will also expand its support for Amazon Bedrock, the AWS service that provides access to AI foundation models for cloud customers to use in building their own apps and services.

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Amazon’s online store sales dip below 40% of net sales for first time, and other earnings notes

GeekWire

The chart below is what Amazon’s net sales look like in raw numbers over the past several years, broken down into the major business segments reported by the Seattle-based company. Here are the same results, expressed as a percentage of net sales. Amazon Web Services posted revenue of $22.1

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Amazon’s cloud business and AI initiatives in the spotlight in advance of earnings report

GeekWire

Amazon’s cloud revenue growth rate and its artificial intelligence initiatives will be closely scrutinized when the company reports second-quarter earnings Thursday afternoon, Aug. Wall Street analysts expect the company to report net sales (revenue) of $131.5 Amazon Web Services revenue growth declined to 15.8%

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AWS revenue growth stabilizes with a boost from generative AI-led services

CIO Business Intelligence

AWS posted a stable 12% revenue growth in the third quarter of 2023 buoyed by demand for generative AI-led services, despite customers trying to optimize their cloud spending. Competitors are catching up fast with twice the revenue growth rate as AWS tries to defend its position as the largest public cloud provider.

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Amazon stock rises after beating Q3 estimates with $143.1B in revenue, $9.9B in profits

GeekWire

Net income was $0.94 Investors are keeping a close watch on the company’s cloud business, which has seen revenue growth decline in recent quarters. Amazon Web Services reported $23 billion in revenue for the third quarter, up 12%, matching the growth rate from the second quarter. Amazon reported $143.1 billion.