In a conference call with analysts, CEO Andy Jassy said he expects the e-commerce giant’s capital expenditures to average around US$25 billion per quarter in 2025, with the “vast majority” going toward AI for the company’s Amazon Web Services platform. (CNBC)

Talking point: Jassy’s remarks come as U.S. tech giants including Microsoft, Google and Meta have ramped up their AI investments—particularly in the data centres that power them—as they race to get new products to market. The US$100 billion marks a 20 per cent increase from last year’s US$83-billion spend, and the firm has announced major data centre projects in the U.S., Mexico and elsewhere. On Thursday, it posted US$20 billion in fourth-quarter net income, while revenue from its online advertising business grew 18 per cent to US$17.3 billion. Amazon’s stock slipped four per cent on the Nasdaq on Friday following the company’s lower revenue outlook for the next quarter.