Shares in data analytics software developer Palantir tumble even as the company tops analysts' earnings estimates.

Amazon will cut about 14,000 corporate jobs as the online retail giant ramps up spending on artificial intelligence while cutting costs elsewhere. In June CEO Andy Jassy, who has aggressively sought to cut costs since becoming CEO in 2021, said that he anticipated generative AI would reduce Amazon’s corporate workforce in the next few years.

Amazon (NASDAQ:AMZN) reported strong third-quarter results on Thursday, with its cloud business AWS showing robust artificial intelligence (AI)-driven demand resulting in a 150% quarterly surge in Trainium chip usage.

Amazon.com Inc. posted robust cloud growth that reassured investors that the tens of billions of dollars the company and its peers are pouring into artificial intelligence will pay off.

Amazon and Palantir are two of the most popular large-cap AI stocks, but chip giant Broadcom could outgrow them in the coming years.

Amazon confirms 14,000 layoffs after CEO says AI likely to lead to job losses. Multinational technology company Amazon is laying off about 14,000 employees, the company has confirmed. A message sent out to staff on the company’s website followed media reports that the group was planning 30,000 job cuts.

Amazon says the constraint right now is power, not chips; it’s giving plenty of the latter to OpenAI. Then, Amazon solves groceries by getting faster tat delivering everything else.

Amazon is taking steps to address how artificial intelligence and automation is changing its workforce. Employees are training to manage and repair the machines now able to do much of the work people used to do.

The S&P 500 and the Nasdaq advanced on Monday, with artificial intelligence-related deals driving much of the gains even as the Federal Reserve's near-term monetary policy grew increasingly foggy due to scarcity of official U.