Amazon CEO: Chip Business 'On Fire'

Amazon's cloud computing division, AWS, is experiencing explosive growth in its artificial intelligence offerings, generating an annual revenue run rate of $15 billion. CEO Andy Jassy highlighted this success in his investor letter, emphasizing the strong demand for the company's custom-designed chips. Jassy described the AI business as 'on fire' and 'ascending rapidly,' signaling a significant acceleration in this segment. This performance positions AWS as a formidable competitor to established players like Nvidia in the AI chip market.