Amazon Raises Capital Spending; Shares Slide

Amazon said it expects to spend $200 billion in capital expenditures this year, a nearly 60% increase from last year, with most investment directed to AI-related infrastructure like data centers and chips. The plan coincided with an roughly 18% share decline since Feb. 2 that erased about $450 billion in market value and risks a tenth consecutive losing session, prompting executives and analysts to call for demonstrated returns on the outlay.