Amazon Eyes Nuclear Power for UK Expansion

Amazon ( (AMZN) ) has been popular among investors this week. Here is a recap of the key news on this stock.

Amazon is making strategic moves to enhance its operations and align with future energy needs. The company has called on the UK to expand its nuclear power infrastructure to support its ambitious £8 billion data center expansion over the next four years. Amazon Web Services’ CEO, Matt Garman, emphasized the importance of nuclear power as a reliable, zero-carbon energy source that can support the growing demands of AI technologies. This initiative highlights Amazon’s forward-thinking approach to sustainable energy solutions and its commitment to reducing carbon footprints.

In addition to its energy strategy, Amazon is also focusing on streamlining its operations by reducing management layers and cutting costs. The company recently laid off around 100 employees from its devices and services division, which includes teams working on AI assistant Alexa, Echo, and Kindle devices. Despite these layoffs, Amazon remains a strong player in the stock market, with analysts maintaining a ‘Strong Buy’ consensus for its stock. The company’s advertising revenue is projected to reach $66 billion this year, further solidifying its position as a leader in the e-commerce and technology sectors.