Amazon’s Profit Surge Will Pay for AI-Driven Capex Push

Take a bow, Andy Jassy! The spate of healthy big tech earnings continued on Tuesday, as Amazon reported what have to be described as robust first-quarter results. Its e-commerce business made money both in North America and overseas—that hasn’t been true since 2021—while cloud giant Amazon Web Services posted accelerating sales growth and much stronger profit margins. Overall operating profits more than tripled. What’s not to like? 

Amazon—like Alphabet, Meta Platforms and Microsoft—is earning dividends from cost-cutting measures implemented a …

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