Emily Bary of MarketWatch reports that Amazon’s ‘building blocks’ and cost-effective AI chips are among its strengths, according to the company’s CEO, Andy Jassy, in Amazon’s annual shareholder letter. Bary writes:
It’s no surprise that artificial intelligence got a prominent mention in Amazon Chief Executive Andy Jassy’s lengthy annual shareholder letter that came out Thursday morning.
In it, Jassy called out the ways the company’s Amazon Web Services cloud-computing busin
ess is helping to fuel the AI revolution, specifically around generative AI — the technology popularized by OpenAI’s ChatGPT application.
“While we’re building a substantial number of GenAI applications ourselves, the vast majority will ultimately be built by other companies,” Jassy wrote. “However, what we’re building in AWS is not just a compelling app or foundation model.” […]
Amazon’s stock had a strong 2023, rising 81%, and it’s up another 22% to start this year.
Jassy’s pay, however, barely budged in 2023, according to Amazon’s proxy filing that also came out on Thursday. Jassy brought home total compensation of $1.36 million last year, compared with $1.30 million the year before. Of his latest total, $365,000 represented his base salary and the rest was “other compensation,” which the company said includes security arrangements.
Former CEO Jeff Bezos, now Amazon’s executive chair, saw his compensation unchanged at $1.68 million.
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