Amazon announced a significant increase in its annual spending, committing $200 billion this year, primarily towards artificial intelligence (AI) and infrastructure. This aggressive investment, which is a substantial rise from last year's $125 billion, led to its shares falling by more than 11% in after-hours trading.

• Amazon is planning to invest $200 billion (£147.7 billion) in AI and infrastructure this year, making it the most aggressive AI investor among big tech.
• The firm's chief executive, Andy Jassy, stated that the bulk of this spending will go towards AI, believing it will reinvent customer experiences.
• Combined, Amazon, Meta, Google, and Microsoft are collectively planning to invest $650 billion into AI and related projects this year, sparking concerns from institutions like the Bank of England about a potential market bubble resembling the dot-com era.