Amazon Announces Growing A.I. Spending as Tech Share Prices Stumble

Amazon on Thursday became the latest technology company to announce swelling investments in A.I., amid stumbling share prices, according to The New York Times.

The Times framed the broader trend in its headline, which reads "Big Tech’s Data Center Blitz Is Burning Through Cash and Scaring Wall Street." The Times reported that Amazon's announcement is part of a wider pattern in which technology companies are announcing swelling investments in A.I., though the summary available for this story does not name the other companies involved.

The Times reported that the share prices of these companies have been stumbling, and its headline says the spending is scaring Wall Street. The summary does not state the size of Amazon's planned investments, the period they would cover, or the specific share price movements behind the reference to stumbling stock prices. It also does not indicate whether any of those figures were disclosed in the company's announcement.

The Times's summary places the announcement on Thursday, without giving a calendar date or a time within that day. The report is credited to Karen Weise.

The full text of the Times report was not part of the source material used for this story, so this account relies on the headline, the summary, and the byline of that report. It includes no company statements or figures beyond those elements.

Sources: The New York Times: Big Tech’s Data Center Blitz Is Burning Through Cash and Scaring Wall Street.