Amazon To Spend $10 Billion On AI Data Centres

Technology giant Amazon (AMZN) says it plans to spend $10 billion U.S. on new artificial intelligence (AI) data centres located in North Carolina.Seattle-based Amazon has earmarked $100 billion U.S. in capital expenditures this year alone, with most of that money going to AI projects. Like other major technology companies, Amazon is building out its artificial intelligence capacity so that it can power AI products and services.Amazon rivals such as Microsoft (MSFT), Alphabet (GOOGL), and Meta Platforms (META) are also spending heavily on their AI infrastructure and capacity. In addition to boosting its AI capabilities, Amazon’s investment in North Carolina will create roughly 500 jobs in the state, said the e-commerce company. Amazon has announced several new AI products over the past year, including its own language models, Trainium chips, and a shopping chatbot for its e-commerce platform.The company has also invested $8 billion U.S. in privately held AI start-up Anthropic that’s known for its Claude chatbot. The stock of Amazon is down 6% this year and trading at $207.23 U.S. per share.