AWS CEO Matt Garman estimates that AI inference, which involves running trained models, represents less than 1% of its eventual scale. The activity already generates more than half of AWS’s AI revenue, with the business’s annualized revenue projected at between $15 billion and $25 billion, while its long-term backlog stands at approximately $578 billion. AWS serves millions of enterprises and startups and expects to reach $1 trillion in annual revenue within five to ten years. Growth remains constrained, however, by shortages of electricity, data center space and chips, which are expected to persist for several years.
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