According to a report from Reuters, citing comments made by CEO Andy Jassy during an internal all-hands meeting, artificial intelligence could boost cloud revenues.
Amazon.com (AMZN) reportedly expects revenue from its cloud business Amazon Web Services (AWS) to hit $600 billion in annual sales by 2036, double the prior estimate.
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According to a report from Reuters, citing comments made by CEO Andy Jassy during an internal all-hands meeting, artificial intelligence could boost cloud revenues.
“I’ve been thinking for the last number of years that AWS, call it 10 years from now, could be about a $300 billion annual revenue, run rate business,” Jassy reportedly said. “I think what’s happening in AI is that AWS has a chance to be at least double that.”
Shares of AMZN were up 1.3% at the time of writing.
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