00:00It's Benzinga bringing Wall Street to Main Street.
00:02Amazon is reorganizing parts of its business as emerging technology scale to support future
00:07customer experiences, according to Benzinga. CEO Andy Jassy said Amazon created a new organization
00:14led by longtime executive Peter DeSantis to oversee advanced AI models, custom chip development,
00:20and quantum computing. The move brings AI software, silicon, and infrastructure under
00:25one leader, and DeSantis will report directly to Jassy. Jassy said the change is better
00:29align Amazon's AI models, chips, and cloud infrastructure to enable faster progress
00:34and new customer capabilities. Amazon stock gained nearly 1% year-to-date as investors weighed
00:40concerns about slowing cloud growth, high AI infrastructure spending, and potential cloud
00:45capacity oversupply. For all things money, visit Benzinga.com.
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