Andy Jassy, Amazon's chief executive officer (CEO), projected that the annual revenue of its cloud unit Amazon Web Services (AWS) could grow to about $600 billion (about 891 trillion won) by 2036.
Reuters on the 17th (local time) analyzed Jassy's remarks and reported this. Jassy said, "For years, I thought AWS could grow to $300 billion in annual revenue 10 years from now," and added, "Given the changes unfolding in artificial intelligence (AI), there is an opportunity to at least more than double that figure."
AWS's revenue last year was $128.7 billion (about 191 trillion won), up 19% from the previous year. Jassy's projection assumes an average annual growth rate of about 17% over the next 10 years. Earlier, Amazon set this year's capital expenditures (CAPEX) at $200 billion (about 297 trillion won), focused on AI development and infrastructure buildout, prompting market concerns.
On this, Jassy said, "We are not spending $200 billion simply hoping AI grows significantly," emphasizing, "We are already detecting very clear and substantial demand signals." He added, "The faster AWS grows, the more proactively we must deploy capital in advance into land, power, buildings, chips, servers, and network equipment."