Amazon.com’s big spending plans on artificial intelligence are worrying investors after DeepSeek showed that developing the technology doesn’t necessarily require billions of dollars, AJ Bell’s Dan Coatsworth writes in a research note. Amazon plans more than $100 billion in capital expenditure this year compared to about $78 billion spent last year as the tech giant ramps up investments on data centers, chips and networking gear for AI. “That’s a huge outlay to stomach now and then a waiting game before it gets a positive financial return on the investment,” Coatsworth says. Amazon shares are down 3% premarket at $231.75.