Amazon’s Q3 Results Alleviate AI Bubble Concerns as AWS Growth Exceeds Expectations
Amazon's third-quarter earnings report has quelled mounting fears of an AI investment bubble, with AWS revenue surging 20% year-over-year to $33 billion—outpacing analyst projections. The cloud division's accelerated growth marks its strongest performance since ChatGPT's 2022 debut, validating Amazon's aggressive AI infrastructure investments.
CEO Andy Jassy highlighted multiple AI-driven revenue streams gaining traction, including the Rufus shopping assistant projected to generate $10 billion annually and the Bedrock enterprise platform poised to rival AWS's flagship EC2 service. Amazon's $8 billion bet on Anthropic, creator of Claude AI, underscores its commitment to dominating the infrastructure LAYER of the AI stack.