Amazon Web Services reported $29.27 billion in first-quarter revenue, missing analyst estimates and marking its third consecutive revenue shortfall, according to CNBC. Growth slowed to 17% from 18.9% in the prior quarter, trailing Microsoft’s stronger Azure results and Google Cloud’s near-consensus performance. Amazon CEO Andy Jassy told shareholders that AI costs for customers are expected to decline over time. He attributed this partly to Amazon’s custom chips, which serve as alternatives to Nvidia GPUs.
