Jeff Bezos Is Pushing Amazon's Prime Video Into an AI Showcase, a Sign of How the Company Plans to Justify Its AI Spending
The company wants to boost engagement through personalized recommendations.
Overview
Despite retiring as CEO five years ago, founder Jeff Bezos still has a few passion projects at Amazon (NASDAQ: AMZN), including Prime Video. The streaming video service that bundles with the Prime delivery subscription has been trying to gain global market share in TV viewing through heavy investments in original content, the acquisition of the renowned MGM Studios, and inroads into expensive sports rights.
Now, Bezos has steered the division to utilize more artificial intelligence (AI) to drive user engagement. Here's what it means for the division and how it could impact Amazon stock.
Details
This year, Amazon expects to spend $220 billion on capital expenditures, up from its original guidance of $200 billion. Almost all this spending is related to data center investments for AI cloud computing to serve customers like OpenAI and Anthropic.
Source
Originally published at www.fool.com.