Amazon Web Services CEO: Were a $30 billion revenue run rate business in the early stages
Summary
Amazon s cloud services business has been growing exponentially, but the company still has a long way to go, the divisions CEO Andy Jassy told CNBCs Jim Cramer on Thursday. With $30 billion of revenue run rate and 45 percent year-over-year growth, Amazon Web Services is just getting started, he said. Amazon took a lead in the cloud space because the company has been able to scale its service and cut costs for clients who opt for the platform over building out their own system, he said. It takes a ton of time and capital to build a data center, but AWS offers "speed and agility," he said. Companies looking to experiment with their own cloud system could wait as much as 12 weeks to receive a server before it can build the software around it, Jassy said.