Amazon Stock Lost 12% in June Amid AI Spending Concerns

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Amazon stock fell 12% in June as the market grew concerned about the company's massive artificial intelligence spending. Amazon said it would spend $200 billion in capital expenditures this year, primarily on its AI business, which is thriving through Amazon Web Services. AWS, the world's largest cloud provider, reported a 28% year-over-year sales increase, its fastest pace in 15 quarters, driven by strong adoption of AI tools. Despite the growth, investors worry that intense competition and a potential oversupply of AI services could prevent Amazon from recouping its investments. CEO Andy Jassy emphasized that the company is in a high-investment phase to build infrastructure that will last for decades and eventually generate significant returns.

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