Amazon.com Inc (NASDAQ:AMZN) CEO Andy Jassy has expressed optimism about the future of the company’s Amazon Web Services or AWS during the first-quarter 2024 earnings call. What Happened: On Tuesday, during the call, Jassy highlighted the potential for AWS, stating that despite the segment’s $100 billion-plus annualized revenue run rate, over 85% of the global IT spend is still on-premises. “We remain very bullish on AWS.” He also noted the impending rise of gen AI, which is expected to be predominantly cloud-based over the next 10 to 20 years, presenting a significant opportunity for AWS. “Th…
