Andy Jassy’s Balancing Act 4/11/24

TechCheck

CNBC

Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.5 • 66 Ratings

🗓️ 11 April 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

The state of Amazon speaks to the state of big tech right now: keeping up with AI competition while keeping costs in check. We break down the tightrope that CEO Andy Jassy has to walk, from investing in startups while building models, to M&A while keeping an eye on regulators.

Transcript

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0:00.0	Amazon CEO Andy Jesse out with his annual shareholder letter this morning.
0:04.0	He says the company is committed to cutting costs while still investing in artificial intelligence.
0:08.8	Kate Rooney's here with a look at the state of Amazon that is for today's tech check. Kate. Hey David, so the state of Amazon that is for today's tech check.
0:13.2	Kate.
0:14.2	Hey David, so the state of Amazon really speaks to the state of big tech right now.
0:17.9	Keeping up with competition in AI wall keeping costs in check.
0:21.9	Amazon CEO Andy Jassy is walking this tight rope
0:25.0	as he laid out in his annual letter this morning
0:26.8	trying to convince employees that it's still day one,
0:30.1	the old Bezos model, and that Amazon is quote operating like the world's biggest
0:34.6	startup as he writes in the letter the same time showcasing some of the cost
0:38.1	discipline that Wall Street is really looking for the first balancing act is an
0:41.9	artificial intelligence cost efficiency big
0:44.6	theme of jasse's letter this morning and it's been a bull case for Amazon but
0:48.4	expensive AI endeavors those are equally important jasie describes three pillars of the company,
0:53.6	retail, prime, and then cloud.
0:55.6	AI, though, he says, is the next big pillar.
0:58.1	Another balancing act, strategic investing.
1:00.6	Amazon made its biggest venture bet ever in AI startup
1:03.4	anthropic which competes with open AI. Meanwhile Amazon's
1:06.8	building its own version. Here's what
1:08.6	Andy Jassie told Andrew Ross Sorkin this morning on Squawk.
	...

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