AWS Growth Surges to Fastest Pace in Three Years Amid AI Boom

Amazon's AWS division reported its fastest growth rate in over three years, with revenue climbing 28% to $37.6 billion in Q1.

This marks a significant increase from the previous year and is driven by increased spending on AI and cloud migrations.

AWS CEO Andy Jassy noted that 'we've never seen a technology grow as rapidly as AI' and highlighted the company's AI services, which are already generating more than $15 billion in annualized revenue after just three years.

Amazon also reaffirmed its long-term partnership with Nvidia and said it will continue to order substantial volumes of chips from the company despite rising demand for its in-house AI processors.