AWS installs an AI accelerator every 14 seconds and eyes $1 trillion annual revenue

The cloud giant is already on track to generate $184 billion annual revenue this financial year, helped by 39.3 percent year-over-year growth that propelled Q3 revenue to a whisker short of $46 billion. “It’s important to remember that the vast majority of global IT spend, about 85 percent, is still on premises, and we’re in a 10- to 20-year cycle where that equation will flip to the cloud,” he said on Amazon's Q3 earnings call. “Conventional wisdom has been that linchpin workloads like mainframes or storage area networks would never move to the cloud,” he observed, before triumphantly noting “these workloads are moving.” Jassy said the cloudy concern installs a new AI accelerator “about every 14 seconds, and almost as fast as we install capacity, customers are gobbling it up.”