Amazon CEO Andy Jassy used his annual shareholder letter to defend the group’s AI spending, saying Amazon was not investing USD200 billion in 2026 capex on a hunch. He said the retailer had committed more than USD4 billion to expand its rural delivery network and described faster fulfilment, drones and Alexa+ as growth drivers. Jassy added that Amazon’s retail business was approaching USD600 billion in revenue, but still showed room for further ecommerce growth. (Amazon)