Amazon is pouring billions into AI infrastructure. Its cloud boss says the company feels "quite good" about its strategy.

Retail job losses are surging, with Amazon and Target cutting nearly 32,000 corporate jobs combined, signaling a major industry restructuring.

Amazon will report earnings after the closing bell on Thursday. Analysts want updates on AI progress, AWS, and retail margins.

Amazon has recently launched its $11 billion worth Rainier project on October 29, 2005 to power Anthropic’s Claude model by the end of the year. The project features over 1 million Trainium

The Amazon layoffs likely reflect a “strategic ‘talent remix,’ ” say researchers at Gartner. It appears the organization is “reallocating resources to high-priority business areas, rather than [the layoffs] directly resulting from AI-driven productivity gains.”

Amazon has announced an approximately 14,000 person reduction in its corporate workforce. The news follows an earlier report from Reuters that up to 30,000 people could be let go. However, the exact number of layoffs is unclear, with the 14,000 figure being cushioned by planned hirings.

Amazon is accused of controlling workers through a surveillance dragnet, while skirting responsibility for their wellbeing.

Amazon stock is up 4% this year ahead of its Q3 earnings report, lagging its mega-cap peers. The call with analysts is scheduled for 5 p.m. ET.