Amazon (AMZN, Buy, $290 target) AGI Strategy Coming into Focus
With this week’s launch of Amazon Nova Act, the company has unveiled the first major product from the recently created Amazon AGI Labs.Typically seen as a laggard in AI research, we believe AMZN has been accelerating efforts to develop artificial general intelligence (AGI), helped by its long-time investment in Alexa and its latest generation of custom ASICs (Trainium and Inferentia).
Amazon.com serves consumers through its online and physical stores. The company also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, and Ring, and the company develops and produces media content. The company operates customer service centers and provides programs that enable sellers to grow their businesses, sell their products in its stores, and fulfill orders through the company The company serves developers and enterprises of various sizes, including start-ups, government agencies, and academic institutions, through its Amazon Web Services segment, which provides a set of global compute, storage, database, and other service offerings. The company also provides services, such as advertising.
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