CEO ANDY JASSY
Warren Buffett’s AI legacy: Apple and Amazon now make up a fifth of Berkshire’s $282 billion portfolio
Berkshire Hathaway, long known for its conservative investments, now has significant exposure to AI through major holdings in Apple and Amazon. While trimming its Apple stake, it remains heavily invested in the tech giant. Amazon, via AWS, represents a dynamic AI growth play, reflecting a strategic pivot in Berkshire’s portfolio.
Amazon freezes retail hiring budget for 2025 amid job cuts
An Amazon spokesperson, however, clarified that this does not mean that recruitment is stopping. According to the Business Insider these changes affect only corporate staff in Amazon’s retail division, not warehouse workers or those in the company’s cloud division, Amazon Web Services.
Trump vs Musk turns ugly; Biopeak's fresh funding
Tensions escalated between Elon Musk and Donald Trump as the former sharpened his critique of the Budget Bill. This and more in today’s ETtech Top 5.
Amazon cuts more jobs, this time in books division
Amazon has cut fewer than 100 jobs in its books division, affecting Goodreads and Kindle teams, to improve efficiency and align with business goals. The move is part of broader efforts by CEO Andy Jassy to streamline operations and reduce bureaucracy. Amazon shares on Thursday rose slightly despite the announcement.
AI 'vibe coding' startups burst onto scene with sky-high valuations
Founders of code-gen startups and their investors believe they are in a land grab situation, with a shrinking window to gain a critical mass of users and establish their AI coding tool as the industry standard. But because most are built on AI foundation models developed elsewhere, such as OpenAI, Anthropic, or DeepSeek, their costs per query are also growing, and none are yet profitable.
At Amazon, some coders say their jobs have begun to resemble warehouse work
As AI transforms coding, developers report increased speed, reduced creativity, and more repetitive tasks. At companies like Amazon, AI tools are boosting productivity but intensifying pressure, echoing past industrial shifts. Engineers fear their roles are being degraded, mirroring factory-style speedups that prioritise output over autonomy and skill development.
At Amazon, some coders say their jobs have begun to resemble warehouse work
At Amazon, which is making big investments in generative AI, the culture of coding is changing rapidly. In his recent letter to shareholders, CEO Andy Jassy wrote that generative AI was yielding big returns for companies that use it for "productivity and cost avoidance." He said working faster was essential because competitors would gain ground if Amazon doesn't give customers what they want "as quickly as possible" and cited coding as an activity where AI would "change the norms."
Weeks after Amazon's Alexa+ AI launch, a mystery: where are the users?
Amazon’s Alexa+, the AI-enhanced voice assistant, has seen a slow and unclear rollout despite promises of wide availability. Few verified users or public reviews exist, raising doubts about its readiness. Technical issues, limited access, and lack of marketing buzz suggest the service may be struggling behind the scenes.
Walmart says it will raise prices due to tariff costs after posting solid first quarter sales
Walmart’s first-quarter profit declined to $4.45 billion from $5.10 billion a year ago due to higher costs from tariffs introduced by former President Donald Trump. While revenue rose 2.5% to $165.61 billion, slightly below expectations, adjusted earnings per share came in at 61 cents, surpassing analyst projections.
Amazon lays off 100 in devices and services unit
Amazon trimmed some Alexa-related jobs in 2023 and has been conducting small cuts to various groups in recent months, including its Wondery podcast, stores and communications units. The Seattle retailer added about 4,000 jobs from last year's fourth quarter to this year's first, according to its earnings release earlier this month.
Elon Musk flaunts Tesla Optimus Robots to Trump and MBS in high-stakes Saudi visit
During his first international trip, President Trump secured a $600 billion investment commitment from Saudi Arabia. He met with Crown Prince Mohammed bin Salman and various business leaders, including Elon Musk, who showcased Tesla robots. The US and Saudi Arabia also discussed a potential purchase of Lockheed F-35 jets, strengthening their alliance through significant economic and defense agreements.
These business leaders have accompanied US President Donald Trump on a trip to Saudi Arabia. Here’s the list
US President Donald Trump received a formal welcome in Saudi Arabia. His arrival featured a display of Saudi tradition, a meeting with key tech figures, and conversations with Crown Prince Mohammed bin Salman. Elon Musk was also present, along with several CEOs from major global companies.
Vulcan: How Amazon’s robot locates and retrieves products using vision and touch
Amazon has unveiled Vulcan, a warehouse robot that uses both sight and touch to locate and retrieve items. Designed to work alongside humans, it helps with difficult tasks, reduces injury risk, and has created new tech roles. Vulcan now assists in fulfilling 75% of orders and boosts job training efforts.
Tariffs cloud tech outlook; Oyo hits IPO wall
Amazon and Apple beat estimates, but their forecasts amid Trump’s trade war raised investor concerns. This and more in today’s ETtech Top 5.
US stock market predictions today: Market up as Dow Jones gains 170 points, S&P 500 hits 5,604, Nasdaq climbs 1.5% — Why is market rising ahead of the April jobs report and tech earnings boost? Here’s what you should know before the market opens
US stock market predictions today show a strong start as the Dow Jones, S&P 500, and Nasdaq head higher ahead of key April jobs data. With big names like Meta, Microsoft, and Reddit posting solid earnings, tech stocks are leading the rally. Meanwhile, Apple and Amazon face pressure from rising tariffs. Investors are closely watching stock futures, economic signals, and what the labor report might mean for future Fed rate moves.
Apple expects $900 million tariff hit, Amazon sees no impact yet
Amazon and Apple exceeded first-quarter earnings expectations, but looming tariffs cast a shadow on future performance. Apple anticipates a $900 million tariff impact, shifting production to India and Vietnam, while facing legal challenges regarding App Store policies and Google's search monopoly.
Amazon sellers are stocking up in the face of tariffs, but it's a short-term fix
Amazon is grappling with the potential impact of tariffs on its third-party sellers, who are currently stocking up to mitigate the effects. However, analysts predict that price increases and margin pressures are inevitable in the coming months as inventories deplete.
Amazon posts weak cloud revenue, income; shares slide
Amazon reported weaker-than-expected cloud growth, with AWS revenue up 16.9% to $29.27 billion, missing forecasts. Operating income guidance also fell short, disappointing investors. Tariff concerns loom, though retail demand remains stable. Total revenue reached $155.7 billion, while ad sales rose 19%. Second-quarter sales guidance exceeded expectations, offering some reassurance.
Amazon cloud revenue, income forecast disappoint, shares slide
Amazon reported weaker-than-expected cloud growth, with AWS revenue up 16.9% to $29.27 billion, missing forecasts. Operating income guidance also fell short, disappointing investors. Tariff concerns loom, though retail demand remains stable. Total revenue reached $155.7 billion, while ad sales rose 19%. Second-quarter sales guidance exceeded expectations, offering some reassurance.
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