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After Amazon stock’s worst day since 2022, CEO Andy Jassy has a message for Wall Street

Amazon CEO Andy Jassy used his annual shareholder letter to defend the company’s $200 billion AI spending plan for 2026—months after the announcement tanked the stock over 10% in a single session. Jassy disclosed AWS’s AI business has hit a $15 billion annual run rate, pointed to customer commitments backing “a substantial portion” of the capex, and compared the current AI cycle to Amazon’s early bet on cloud computing.

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