00:00In his annual shareholder letter, Amazon CEO Andy Jassy doubled down on the company's aggressive AI spending strategy,
00:08defending a $200 billion capital expenditure plan for 2026, the largest among its tech peers,
00:14and a nearly 60% jump from last year by pointing to customer commitments covering a substantial portion of the
00:21spend
00:21and expectations to monetize most of it in 2027 and 2028.
00:27Jassy disclosed for the first time that Amazon's cloud AI revenue has reached a $15 billion annual run rate,
00:34while its custom chip business has surpassed $20 billion in annual revenue and is growing triple digits year over year.
00:42Drawing a parallel to Jeff Bezos' early bet on long-term growth over short-term profits,
00:49Jassy framed AI infrastructure as a once-in-a-lifetime opportunity,
00:52with Amazon stock rising over 4% on Thursday, despite being down roughly 1% for the year.
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