Buffett and Wood Both Bet on Amazon's AI Future Even as Profits Rise
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Warren Buffett and Cathie Wood both own small positions in Amazon stock, the only AI stock they both own.
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Amazon uses AI extensively, including in its recommendations engine, Alexa virtual assistant, and Amazon Web Services cloud platform.
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Amazon's profits are rising significantly as it streamlines operations and focuses on boosting earnings.
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AWS has massive growth potential as more IT spending moves to the cloud over the next 10-15 years.
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Amazon continues expanding into new markets like healthcare and car sales, presenting future growth opportunities.