Amazon and Apple achieve massive £200 billion in sales in just three months after AI push
Amazon and Apple raked in almost £200 billion in revenue in just three months as they continued their efforts in artificial intelligence (AI).
In a banner week for US tech, Amazon reported an 11 per cent rise in sales to £123 billion for the three months to the end of September, while Apple posted a 6 per cent rise to £73.6 billion in the same period.
It came after Microsoft and Meta warned they would invest more in AI infrastructure as demand rises.
AI boost: Amazon reported an 11% increase in sales to £123 billion in the three months to the end of September. Apple posted a 6% increase (to £73.6 billion) over the same period
Amazon’s profits rose 55 percent to £11.9 billion, while Apple’s profits fell 35 percent to £11.4 billion following a European court ruling that the company must pay more than £11 billion in taxes pay.
Apple’s AI tools for the iPhone launched this week for some users, while Amazon has a generative AI expert shopping assistant called Rufus.
Amazon President Andy Jassy said there’s “so much more to come” with the new AI capabilities announced in December.
Apple CEO Tim Cook said Apple Intelligence “sets a new standard for privacy in AI and boosts our lineup heading into the holidays.”
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