Amazon punished over $200bn AI spending spree

Amazon, controlled by billionaire Jeff Bezos, said profits grew by 31pc last year - Eva Marie Uzcategui/Bloomberg Amazon shares plunged on Thursday night, continuing a tech industry sell-off, after it outlined a $200bn (£148bn) spending surge on artificial intelligence (AI) infrastructure. Andy Jassy, the company’s chief executive, said the tech giant’s capital expenditure would grow by around 60pc this year as its giant cloud computing business attempts to keep ahead of rivals. The spending plans came ...