Amazon chief executive Andy Jassy’s explanation for why the company is cutting 14,000 employees? Not money. Not even AI, but “culture.”

Amazon’s cash tax payments fell 45% in the third quarter, driven largely by the One Big Beautiful Bill Act of 2025, even as profits surged 38%. The new U.S. law, championed by President Trump, allows companies to immediately deduct equipment and R&D costs — boosting investment in AI infrastructure while cutting near-term tax bills.

Amazon CEO Andy Jassy said that even without counting Whole Foods — the high-end grocery store chain it bought in 2017 — and Amazon Fresh, the company's grocery business put up more than $100 billion of gross merchandising sales over the last 12 months.

Amazon's cloud business knocked it out of the park and CEO Andy Jassy hinted that the unit is gaining momentum heading into the next few months giving him 'significant confidence' he said.

Nvidia stockNVDA was rising on Friday after AmazonAMZN confirmed its capital expenditure plans and delivered robust quarterly earnings. Nvidia this week became the first company to reach $5 trillion in market capitalization.

The domination of e-commerce is inevitable and will only come faster thanks to the emerging technology, even if physical stores represent opportunity for now, Andy Jassy told analysts Thursday.

Amazon (AMZN) shares continued to gain ground in late trading on Thursday with the company’s earnings call highlighting the advancements in its cloud computing segment, new features on its ecommerce site,

During Amazon's earnings call, Chief Executive Andy Jassy said the e-commerce giant was committed to "meeting or beating prices of other major retailers," as shoppers grapple with higher costs of living and concerns about tariffs.