: AWS reports revenue of $24.2 billion for Q4, 2023

Amazon Web Services (AWS) reported revenues of $24.2 billion in the last three months, year-on-year (YoY) growth of 13 percent. These figures also show a 12 percent increase for the market-leading public cloud platform in the third quarter of the year.

Amazon CEO Andy Jassy said, "We are now approaching an annualized revenue run rate of $100 billion," said Amazon CEO Andy Jassy. "We watched the incremental revenue added each quarter and in Q4 AWS added more than $1.1 billion in incremental quarter-over-quarter revenue, which on an FX-neutral basis is more than any other cloud provider as far as we can tell."

Jassy added, "We anticipate CapEx to increase year-over-year, primarily driven by increased infrastructure CapEx [to] support growth of our AWS business, including additional investments in generative AI and large language models. Gen AI is and will continue to be an area of pervasive focus and investment across Amazon, primarily because there are a few initiatives, if any, that give us the chance to reinvent so many of our customer experiences and processes, and we believe it will ultimately drive tens of billions of dollars of revenue for Amazon over the next several years."