Amazon Just Burned $42 Billion in Cash Chasing AI Growth. Is Wall Street Ignoring the Risk?
Yahoo Finance ·
Amazon ( AMZN -4.25% ) spent $77.3 billion on property and equipment in the third quarter, more than twice the $35.1 billion it spent a year earlier, according to the tech giant's latest earnings report released earlier today. That spend helped Amazon Web Services (AWS), the company's cloud business, deliver its best growth in almost five years -- 39% year over year -- but investors are still weighing whether they're comfortable with the enormous scale of AI capital expenditures .
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