【环球网科技综合报道】若你对亚马逊能否成功将人工智能转化为商业收益仍存疑虑，这家电商公司用一项数据给出了回应：据估计，其AI购物助手Rufus 每年有望为公司带来100亿美元的增量销售额。 在近日举行的第三季度财报电话会议上，亚马逊首席执行官安迪·杰西公布了这一预测，并分享了反映该工具对消费者行为影响持续增强的最新数据。杰西 透露，今年已有2.5亿消费者使用过Rufus，其月活跃用户数同比增长140%，用户互动量同比上升210%。 根据财报，亚马逊第三季度营收同比增长13%，达到1802亿美元，超出分析师预期的1778亿美元。其云计算业务亚马逊网络服务营收增长20%，达330亿美 元，创下自2022年以来的最快增速。 Rufus于2024年2月以测试版形式推出，是一款直接集成在亚马逊移动应用和网站中的购物助手。该助手基于亚马逊完整产品目录、客户评论、社区问答及全 网信息进行了全面训练。消费者可通过它进行广泛的产品比较——例如对比越野跑鞋与公路跑鞋的差异，也可针对具体商品提问，如某款外套是否适合冬季 穿着。 《财富》报道认为，Rufus体现了亚马逊的一项关键战略：将用户留在自有生态系统中，避免其流向谷歌等搜索引 ...

Financial Data and Key Metrics Changes - The company reported revenue of $180.2 billion for Q3 2025, representing a 12% year-over-year increase, excluding foreign exchange impacts [6][25] - Operating income was $17.4 billion, which would have exceeded $21 billion without two special expenses totaling $4.3 billion [6][26] - Trailing 12-month free cash flow stood at $14.8 billion [6] Business Line Data and Key Metrics Changes - AWS revenue reached $33 billion, up 20.2% year-over-year, marking the largest growth rate in 11 quarters [6][31] - North America segment revenue was $106.3 billion, an 11% increase year-over-year, while international segment revenue was $40.9 billion, a 10% increase year-over-year [26] - Worldwide paid units grew by 11% year-over-year, with third-party seller unit mix increasing to 62% [27][28] Market Data and Key Metrics Changes - AWS backlog grew to $200 billion by the end of Q3, not including several unannounced deals in October [8] - The advertising segment generated $17.6 billion in revenue, growing 22% year-over-year [19][31] Company Strategy and Development Direction - The company is focused on expanding AWS capabilities, particularly in AI and core services, with significant investments in infrastructure and custom silicon [15][33] - The grocery business is evolving with a strong emphasis on perishables and same-day delivery, aiming to change consumer habits [16][55] - The company is committed to enhancing its advertising offerings and leveraging partnerships to expand its reach [20][76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in AWS's growth trajectory, citing strong demand for AI workloads and infrastructure [6][31] - The company is preparing for a busy Q4, anticipating high demand for AWS and innovations in AI-powered experiences [24][34] - Management emphasized the importance of maintaining a lean organizational structure to foster agility and innovation [57][58] Other Important Information - The company has committed over $4 billion to expand its rural delivery network, increasing access to same-day and next-day delivery [18] - The introduction of AI-powered tools like Rufus and AgentCore is expected to enhance customer experience and operational efficiency [18][74] Q&A Session Summary Question: AWS capacity levels and Trainium demand - Management highlighted significant capacity additions, with 3.8 gigawatts added in the last year and expectations to double capacity by 2027 [39] - Trainium 2 is fully subscribed, with strong demand from both large and medium-sized customers [40][41] Question: Trainium positioning versus third-party chips - Management confirmed the intention to maintain multiple chip options, emphasizing the advantages of Trainium in price performance [45][46] Question: Project Rainier architecture and differentiation - Project Rainier is designed for large-scale AI workloads, showcasing AWS's infrastructure capabilities and performance advantages [50] Question: Grocery business and perishable delivery - The grocery business has surpassed $100 billion in gross merchandising sales, with a focus on expanding same-day delivery for perishables [53][56] Question: Robotics and automation in operations - The company has over a million robots in its fulfillment network, with ongoing investments to enhance safety, productivity, and speed [61][62] Question: Agentic commerce future - Management expressed excitement about the potential of agentic commerce to enhance customer experiences and drive online shopping growth [65][68]

Financial Data and Key Metrics Changes - The company reported revenue of $180.2 billion for Q3 2025, representing a 12% year-over-year increase, excluding foreign exchange impacts [5][22] - Operating income was $17.4 billion, which would have exceeded $21 billion without two special expenses totaling $4.3 billion [5][23] - Trailing 12-month free cash flow stood at $14.8 billion [5] Business Line Data and Key Metrics Changes - AWS revenue grew by 20.2% year-over-year, marking the largest growth rate in 11 quarters, with an annualized revenue run rate of $132 billion [5][29] - North America segment revenue reached $106.3 billion, an 11% increase year-over-year, while the International segment revenue was $40.9 billion, up 10% year-over-year [23] - Advertising revenue was $17.6 billion, growing 22% year-over-year [18][28] Market Data and Key Metrics Changes - The backlog for AWS grew to $200 billion by the end of Q3, not including several unannounced deals in October [6] - Worldwide paid units increased by 11% year-over-year, indicating strong customer engagement [24] Company Strategy and Development Direction - The company is focused on expanding its AWS capabilities, particularly in AI and core services, and plans to double its overall capacity by the end of 2027 [33][14] - The company is committed to enhancing its grocery business through innovations like same-day delivery for perishables, which has significantly increased customer engagement [15][45] - The company is investing over $4 billion to expand its rural delivery network, aiming to improve service in underserved areas [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of AWS and the demand for AI services, highlighting the importance of Trainium chips for future scalability [5][35] - The company anticipates continued strong performance in the advertising sector, driven by its full-funnel advertising approach [58] - Management emphasized the need for a lean organizational structure to maintain agility and innovation in a rapidly changing market [46] Other Important Information - The company has made significant investments in robotics and automation, with over a million robots in its fulfillment network, aimed at improving efficiency and safety [48] - The company is exploring agentic commerce, which could enhance the online shopping experience through AI-driven solutions [50][52] Q&A Session Summary Question: AWS capacity levels and Trainium demand - Management indicated that AWS has added significant capacity, with 3.8 gigawatts in the last year and expects to double capacity by 2027, with strong demand for Trainium chips [33][35] Question: Trainium positioning versus third-party chips - Management acknowledged the importance of multiple chip options and highlighted the strong performance of Trainium, which is 30-40% more price-efficient than competitors [37][38] Question: Grocery business and same-day delivery - Management reported over $100 billion in gross merchandising sales in the grocery sector and emphasized the success of same-day delivery for perishables [42][45] Question: Future headcount and AI efficiencies - Management clarified that recent headcount changes were not primarily driven by financial or AI considerations but aimed at improving organizational efficiency and decision-making [46] Question: Robotics and automation investment - Management confirmed ongoing investments in robotics to enhance productivity and safety within fulfillment operations [48] Question: Agentic commerce and customer experience - Management expressed excitement about the potential of agentic commerce to improve online shopping experiences and indicated ongoing efforts to enhance customer interactions [50][52]

Core Insights - Amazon is set to report third-quarter 2025 results on October 30, with expected net sales between $174 billion and $179.5 billion, reflecting a growth of 10-13% year-over-year, despite a negative impact of approximately 130 basis points from foreign exchange rates [1] - The Zacks Consensus Estimate for third-quarter earnings is $1.58 per share, indicating a growth of 10.49% from the previous year [2] Financial Performance - Current estimates for third-quarter earnings per share have shown a slight upward trend, with the latest estimate at $1.58 compared to $1.54 three months ago [3] - Amazon has a strong earnings surprise history, with a 26.32% surprise in the last quarter and an average surprise of 22.98% over the last four quarters [6] Business Segments and Growth Drivers - Amazon's e-commerce and cloud markets are benefiting from strong performance, with AWS revenues projected to grow 18.4% year-over-year to $32.49 billion, driven by AI infrastructure investments [9][11] - The advertising business generated $15.69 billion in the second quarter of 2025, representing a 23% year-over-year growth, supported by new innovations and expanded capabilities [14][15] - The online stores segment is estimated to generate $66.3 billion in revenues, reflecting an 8% year-over-year increase, aided by enhanced product discovery tools and AI features [21][22] Strategic Initiatives - Amazon's Prime Day event in July 2025 resulted in record sales, with U.S. e-commerce sales reaching $24.1 billion, showcasing strong momentum [16] - The company expanded same-day grocery delivery to over 1,000 cities, integrating thousands of perishable items into its delivery network, which is expected to enhance customer engagement and competitive positioning [19][20] Market Position and Valuation - Amazon's shares have gained 3.6% year-to-date, underperforming compared to the broader Zacks Retail-Wholesale sector and the S&P 500 index [23] - The company is trading at a forward 12-month price-to-sales ratio of 3.14X, indicating a premium valuation compared to the industry average of 2.23X [27] Investment Thesis - Amazon presents a compelling buy opportunity ahead of its earnings report, driven by strategic initiatives in AWS, advertising, and grocery expansion, which are expected to support long-term shareholder value creation [30] - The convergence of multiple growth engines, including cloud computing, digital advertising, and e-commerce innovation, positions Amazon for robust growth [31]

Group 1 - Salesforce has reduced approximately 4,000 customer support positions due to the integration of artificial intelligence, decreasing the workforce from 9,000 to around 5,000. AI agents are completing 30% to 50% of the company's work, particularly in support and sales roles. This shift has led to a 17% reduction in support costs [2] - Anthropic has completed a new funding round, raising $13 billion, exceeding initial expectations and increasing its valuation to $183 billion, nearly three times its valuation at the beginning of the year. This funding round is one of the largest for an AI company to date, with participation from major investors including Iconiq Capital and Fidelity Management and Research [2] - A study published in Nature Machine Intelligence indicates that an AI-assisted brain-computer interface can significantly enhance the task performance of paralyzed individuals, improving their ability to control devices by nearly four times [2] - Amazon has launched a new AI shopping feature called Lens Live, which allows consumers to discover products by simply pointing their phone at real-world items. This feature enhances the existing Amazon Lens tool by adding real-time interaction capabilities [2][3]

Product Update - Lens Live will add a real-time component to Amazon Lens [1] - Lens Live will not replace Amazon's existing visual search tool, Amazon Lens [1]

Core Insights - The growth of artificial intelligence (AI) has significantly contributed to stock market highs, with potential for substantial returns for investors who capitalize on current volatility [1] - AI is projected to boost global GDP by 14% by 2030, adding over $15 trillion to the economy [2] Company Analysis: Amazon - Amazon is a leading retail brand with over 200 million Prime members, and it is also a major player in AI, which enhances its growth potential [3] - Amazon Web Services (AWS) is the top cloud service provider, with a 19% year-over-year revenue increase in Q4, driven by strong demand for AI-related services [4] - AI investments are also enhancing Amazon's online retail, with tools like Rufus and Amazon Lens aimed at increasing sales from its $247 billion online revenue [5] - Amazon's net income reached $59 billion on $638 billion total revenue, with projected earnings growth at a compound annual rate of 21% [6] Company Analysis: Alphabet (Google) - Alphabet's Google and YouTube are benefiting from AI, showing efficient returns from AI investments in digital advertising and cloud services [7] - Google Search generated $54 billion of Alphabet's $96 billion total revenue in Q4, with advertising contributing to a net profit of $100 billion on $350 billion revenue in 2024 [8] - Despite economic challenges, Alphabet's revenue grew 10% in 2022, as digital ad spending continues to rise [9] - AI integration across services, including the Gemini AI model, enhances user experience and increases advertising spending [10] - Google Cloud experienced 30% year-over-year revenue growth in Q4, driven by demand for AI-powered services, with earnings expected to grow at an annualized rate of 17% [11]