The direct action taken by companies to cut jobs, for different reasons, may act as a warning that a snowball effect could be in the works.

The company's top human resources executive said Tuesday that the tech giant needs to be "organized more leanly" due to the "transformative" nature of AI.

Amazon said it has completed its Project Rainier data-center cluster, which is powered by nearly 500,000 of the company’s Trainium 2 chips.

Amazon’s cloud-computing arm plans to invest an additional $5 billion in South Korea over the next six years to build new artificial-intelligence data centers in the country.

Amazon.com said on Wednesday it has launched its compute cluster project called Rainier, and added that artificial intelligence firm Anthropic will use more than a million chips of the infrastructure by the end of the year.

Although Nvidia remains popular with many billionaire investors, it's not their favorite AI stock. The only AI common denominator for billionaires Ken Griffin, Izzy Englander, Chase Coleman, David Tepper, Bill Ackman, and Warren Buffett is Amazon.

Amazon will cut about 14,000 corporate jobs as the online retail giant ramps up spending on artificial intelligence while cutting costs elsewhere.