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AWS has boosted Amazon Transcribe with generative AI.

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Amazon Cuts Hundreds , of Cloud Computing Jobs.An Amazon Web Services (AWS) spokesperson issued a statement about the job cuts on April 3, CNBC reports. .We’ve identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key strategic areas that we believe will deliver maximum impact, AWS spokesperson, via statement.We didn’t make these decisions lightly, and we’re committed to supporting the employees throughout their transition to new roles in and outside of Amazon, AWS spokesperson, via statement.Cuts are being made to the store technology division “as a result of a broader strategic shift in the use of some applications in Amazon’s owned as well as in third-party stores,” the spokesperson said.The layoffs come after Amazon announced that it was ending its Just Walk Out technology in Fresh stores.The cashierless technology is overseen by teams within the AWS unit. .Beginning in 2022, Amazon started its largest layoffs in history by letting go of 27,000 roles company-wide. .So far in 2024, the retail behemoth has cut jobs at Audible, Buy with Prime, Prime Video, MGM Studios and Twitch, CNBC reports. .This latest round of cuts will allow U.S. employees to collect pay and benefits for a minimum of 60 days.They will also be offered a severance package.

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Amazon Web Services (AWS) is cutting jobs due to a change in focus.

Artificial intelligence, A-I, is going to change the way we work, and employers know it. A new study by Amazon Web Services (AWS) and Access Partnership reveals that 73% of employers are prioritizing the hiring of AI-skilled talent, but three out of four say they are unable to meet their talent needs. Jenni Troutman, Director of Products and Services at AWS Training and Certification, is joining us live from Houston this morning with more details about the types of cloud computing skills employers are looking for and how you can take advantage of free training. For more information visit www.aboutamazon.com/29million

While artificial intelligence startup OpenAI reportedly ended the year discussing a fundraise at a valuation of $100 billion or more, one of its leading challengers, Anthropic, was accepting a round of its own. Appearing almost modest in comparison, Anthropic was raising $750 million in new funding that would nearly quadruple its valuation to $18.4 billion.New details of the unusual round, which remains in progress, reveal how lead investor Menlo Ventures used an increasingly popular tactic to jump to the front: a special purpose vehicle, or SPV. The impetus to do the round, according to multiple sources, came from an opportunistic Menlo seeking to double down on a position in one of AI’s leading unicorns ahead of a potential larger round later in 2024, once Anthropic’s revenue had grown. For a previously small shareholder, it was a power play. For Anthropic, a painless way to burnish its war chest amid a hiring and product race.Anthropic hadn’t been planning to do a round at the end of 2023 at all: the startup had previously signaled to interested investors that it preferred to wait until the second half of 2024 to make a formal fundraising push, according to four people with knowledge of the process. But Menlo’s offer made sense: the company gained a cash infusion at a critical juncture with minimal fuss, while also formalizing terms for two others promised by key cloud computing partners, Amazon and Google.Read the full story on Forbes: https://www.forbes.com/sites/alexkonrad/2024/01/11/anthropic-750million-funding-round-menlo-ventures/?sh=586036c96e23Forbes Daily Briefing shares the best of Forbes reporting on wealth, business, entrepreneurship, leadership and more. Tune in every day, seven days a week, to hear a new story. Subscribe here: https://art19.com/shows/forbes-daily-briefingSubscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescriptStay ConnectedForbes newsletters: https://newsletters.editorial.forbes.comForbes on Facebook: http://fb.com/forbesForbes Video on Twitter: http://www.twitter.com/forbesForbes Video on Instagram: http://instagram.com/forbesMore From Forbes: http://forbes.comForbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Amazon's fourth-quarter earnings and revenue significantly beat estimates, with revenue reaching $170 billion, up 14% year-over-year. Net income surged to $10.6 billion from $278 million year-over-year, as cost cuts took effect from job cuts and investment trims. AWS sales were $24.2 billion, matching estimates and up 13% year-over-year with growth slowing from prior periods. Advertising revenue grew 27% to $14.7 billion and will expand further with new Prime Video ads. First-quarter revenue guidance of $138 to 143.5 billion topped estimates and represented 8 to 13% growth year-over-year.