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Amazon Web Services (AWS) Growth Milestone
Amazon’s cloud unit, AWS, reported its fastest growth rate in 11 quarters, with a revenue increase of 20% year-over-year. As of the latest earnings report, AWS has achieved a $132 billion annual revenue run rate, constituting approximately 65% of Amazon’s total operating income.
As the largest cloud service provider, AWS is capitalizing on the growing demand for artificial intelligence (AI) solutions. According to CEO Andy Jassy, Amazon is aggressively investing in capacity to meet demand in this sector.
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