Amazon CEO Says Rising Costs Are a ‘Critical Challenge’ as Inflation Pressures Remain

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, France, on Feb. 20, 2017. Pascal Rossignol/Reuters

Despite a past year full of challenges, Amazon’s CEO said he is optimistic for the future and that cost-cutting will have a positive result.

Andy Jassy said in the letter to shareholders for 2022, published Thursday, that “AWS is now an $85 billion annual revenue run-rate business,” referring to Amazon Web Services, the world’s biggest cloud-computing provider.