From CNBC: 2024-04-30 16:27:56

Adam Selipsky, CEO of Amazon Web Services, announced a 17% revenue growth for the cloud unit in the first quarter of 2024, surpassing Wall Street expectations. Revenue from AWS totaled $25.04 billion, marking a significant increase from the previous quarter’s 13% growth.

Amazon’s cloud unit, AWS, contributes 17% to the company’s total revenue of $143.3 billion. With a robust operating income of $9.42 billion, AWS accounted for 62% of Amazon’s total operating income. The AWS operating margin widened to 37.6%, the highest since at least 2014.

Google and Microsoft reported accelerating cloud growth, but Amazon maintains its lead in the market. The cloud industry is expanding rapidly, outpacing other areas of information technology. Amazon recently invested $4 billion in AI startup Anthropic, which uses AWS chips for training its AI models.

CEO Adam Selipsky highlighted Anthropic’s leading AI models, competing with Google and Microsoft. As the cloud industry evolves, the race for AI innovation intensifies. AWS remains a key player, driving growth and innovation in the cloud computing market. Stay tuned for updates.



Read more at CNBC:: AWS Q1 earnings report 2024