He started Dave’s Hot Chicken with $900: Years later, 19 employees become millionaires after $1 billion deal | world News

They started Dave's Hot Chicken with $900: Years later, 19 employees become millionaires after $1 billion deal

For decades, stories of billion-dollar company sales have generally followed the same pattern. Founders become rich, investors celebrate massive returns, and employees often get nothing more than praise for their hard work. Recently, Graham Walker has attracted attention after reportedly sharing $240 million with 540 employees following the sale of Fiberbond Corp. to Eaton in a $1.7 billion deal. Before the sale was finalized, Walker insisted that 15% of the proceeds go directly to the employees, even if they did not own shares in the company. The average worker reportedly received approximately $443,000, creating life-changing financial opportunities for many families in the small town of Minden, Louisiana. Similarly, according to a 2025 report from CNBC, Dave’s Hot Chicken, a fast-growing restaurant chain, reportedly turned 19 employees into millionaires after a massive investment deal that valued the company at nearly $1 billion. CEO Bill Phelps says this decision was deliberate from the beginning. At a time when many employees feel disconnected from corporate success, the move has sparked conversations about loyalty, leadership and how companies reward the people who help build them.

Dave’s Hot Chicken The deal that reportedly made managers millionaires

The major turning point came when private equity firm Roark Capital acquired a majority stake in Dave’s Hot Chicken in a deal reportedly worth about $1 billion. Such large investment deals are common in the restaurant industry, but what happened next surprised many.According to Bill Phelps, 19 employees became millionaires through the transaction, NRN reports. The company reportedly rewarded corporate employees, store managers and assistant managers with bonuses that were almost equal to their annual salaries. For many workers, this was potentially a life-changing moment.“I had some investors who said, ‘You’re paying too much money, it’s not right,'” he says. “As investors they were absolutely right to stand up to other investors. They have a fiduciary duty, but I have a duty to the people who built this business, and I was true to the care of all those stakeholders in this deal.”Phelps later explained that some investors were uncomfortable with how much money was being distributed to employees. From a financial perspective, investors often prioritize earning maximum profits and protecting returns for shareholders.

How Dave’s Hot Chicken turned a $900 startup into a nationwide restaurant giant

Dave’s Hot Chicken didn’t start out as a giant corporate brand. The company reportedly started in 2017 when three childhood friends raised just $900 to open a small chicken stand in a Los Angeles parking lot. At the time, few people could have predicted how rapidly the business would grow. Customers were attracted to the restaurant’s spicy chicken, simple menu and strong social media buzz. Within a few years, the brand expanded rapidly throughout the United States and became one of the most talked-about fast-food chains in the industry.The company’s growth accelerated after Bill Phelps joined in 2019. Phelps already had extensive experience in the restaurant business after co-founding Wetzel’s Pretzels and working with several other food brands. With an investor group, he acquired a stake in Dave’s Hot Chicken and helped franchise the business across the country.

Bill Phelps reportedly called his employees ‘partners’

“One of my investors told me I had no idea what management compensation should be,” Phelps says with a laugh. “And he’s right, because I don’t see them as management. I see them as my partners in this journey, and I compensate them as partners in this journey.” According to Phelps, rewarding employees appropriately was part of staying loyal to those who had contributed to Dave’s Hot Chicken from the beginning.Phelps has also said that he does not believe in micromanaging employees because he trusts people to do their jobs well.

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Iran’s Araghchi in India for BRICS meet; His plane has a clear message: ‘MINB168’ india news

Iran's Araghchi in India for BRICS meet; There is a clear message on his plane: 'MINAB168'

New Delhi: Iran’s Foreign Minister Abbas Araghchi reached New Delhi on Wednesday. BRIC Foreign ministers meeting on a plane carrying a clear message from Tehran: Minab168. The inscription on the plane is a reference to the 168 schoolchildren Iran says were killed in a US strike on a school in Minab on February 28, underscoring the human toll of the war, even as diplomatic engagement continues.The #Minab168 markings are prominently visible on the fuselage in photographs of Araghchi boarding a plane in Tehran.Araghchi’s visit comes at a fraught moment for West Asia, with the ongoing conflict involving Iran and the US-Israel axis expected to dominate the discussion at the BRICS foreign ministers’ meeting in Delhi. He is also expected to hold bilateral talks with External Affairs Minister S Jaishankar, in which energy security, regional stability and connectivity are likely to be on the agenda.The reference to Araghchi’s plane points to one of the deadliest and most emotional events of the ongoing conflict in Iran.

What happened in Minab?

On February 28, the first day of the US-Israeli military campaign against Iran, Shajareh Tayyebeh Elementary School in Minab, a city in Iran’s southern Hormozgan province near the Strait of Hormuz, was attacked in an attack that Iranian officials say killed 168 schoolchildren. The attack quickly became a defining symbol of civilian loss in the war. UNICEF said the victims included children aged 7 to 12, calling it a stark reminder of the conflict’s cost on civilians.The location of Minab further increased the controversy. The school was located close to an Islamic Revolutionary Guard Corps (IRGC) facility, raising questions about whether it was caught in an attack targeting nearby military infrastructure. The Pentagon later launched a high-level investigation into the incident after initial findings suggested the US military may have been responsible, with the report indicating the possibility of faulty or outdated intelligence.

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How a content creator earned Rs 24,000 in just 24 hours by selling this fast food in the mountains.

How a content creator earned Rs 24,000 in just 24 hours by selling this fast food in the mountains

In January 2026, content creator Badal Thakur made headlines by selling Maggi for a day in the hills and earned a total of Rs 21,000. In the same league, a Delhi-based content creator is now trending for earning Rs 24,000 by selling Maggi at a beautiful mountain location. Scroll down to read details.

maggi, mountain and money

Maggi and mountains have a unique relationship which is loved by people of all ages. It’s the perfect combination for travelers seeking comfort food in cold weather. Recently a content creator from Delhi used this combination to earn a good amount of money. Devansh Tyagi, who is known for posting challenge-based videos on Instagram, documented his attempt to set up a temporary Maggi stall at a beautiful hilly location and earned Rs 24,000. According to the video, they looked for a beautiful location, arranged packets of instant noodles on display, laid out plastic tables and chairs for customers, and set up a small cooking station overlooking the hills. Soon after the stall opened, pedestrians and tourists began stopping by for food. He can also be seen cooking fresh portions of Maggi for customers and interacting with them. He revealed that regular Maggi was priced at Rs 100 per plate, while butter Maggi was priced at Rs 120. At the end of the experiment, Tyagi claimed that he had earned Rs 24,000 in a single day by selling Maggi.The video quickly went viral, garnering 92.1 million views and sparking widespread discussion online about Maggi’s popularity at hill stations and tourist destinations.This idea is not very new. In January, another manufacturer conducted a similar experiment and they sold normal Maggi at Rs 70 and Paneer Maggi at Rs 100. At the end of the day he sold around 300 plates and earned around Rs 21,000.

Why does Maggi taste so good in the mountains?

Weather change: One reason it works so well is the weather. The drop in temperature makes you crave for heavy and filling food and Maggi made from refined flour, with the goodness of vegetables serves the purpose and becomes highly satiating. Sadness: Food is often associated with nostalgia and memories. Maggi in the mountains is associated with memories of holidays, road trips, rain-soaked evenings, bonfires and friendship, which is why people are often eager to revisit those good times. Filling and Resting: We have been eating Maggi for years. When you are in the mountains, steep treks often make you hungry and that’s when Maggi, rich in carbs and fat, comes as a savior, as it is mostly made from flour. Plus, the use of butter in making this iconic dish makes it even more delicious and comforting. Disclaimer: This article is based on publicly available reports. The Times of India has not independently verified all the claims mentioned in the article.Images Courtesy: iStock and Instagram

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Australia Lizard Population: Why Australia Became One of the World’s Largest Lizard Populations world News

Why did Australia become home to the world's largest population of lizards?

The number of lizards in Australia is not large for no reason. In many areas, they almost silently dominate the landscape, moving through bushes, rocks and dry grass in large numbers that become apparent only after spending time there. The continent has an unusually high concentration of reptile species, especially skinks, compared to most of the world. Scientists have been trying for years to understand how one landmass produced such extraordinary diversity while other animal groups remained relatively limited.This explanation appears to be linked to Australia’s long environmental history. Over millions of years the continent gradually changed, becoming drier, hotter and more fragmented. Habitats repeatedly expanded and disappeared. Those changes created opportunities for reptile populations to diverge, adapt to local conditions, and eventually evolve into completely different species. Everything that exists today is the result of accumulation over vast expanses of time rather than a sudden evolutionary event.

How ancient climate change boosted lizard diversity in Australia

Australia was once much wetter than it is now. Parts of the continent had large forest areas before long-term climate drying caused changes in vegetation patterns and converted much of the interior into open woodland, shrubland and desert.According to research published in ScienceDirect, titled ” Phylogeny and divergence times of the Australian sphenomorphous group are reduced.“, the major diversification among Australian skinks appears to be closely linked to these ancient climate changes. The study reconstructed evolutionary relationships in the group Sphenomorphini and found that several lineages expanded during a period when arid environments spread across the continent.Reptiles are not necessarily harmed by dry conditions. Lizards can survive on relatively limited resources and adjust their activity around extreme temperatures. In landscapes where rainfall became unpredictable and food supplies fluctuated, those traits helped them survive while conditions became increasingly difficult for many other animals. Environmental change occurred gradually rather than suddenly. It matters. Populations had time to adapt to local habitats as the ecosystem changed around them over millions of years.

Why did geographic isolation increase the diversity of lizards in Australia?

Australia’s long geographic isolation also shaped what happened next. After separation from Antarctica, the continent remained fairly isolated for the evolution of animal lineages and subsequently experienced relatively little external competition. According to the study, examining Australian desert lizard diversity, many species evolved to occupy highly specialized ecological niches. Some prefer loose dunes while others stick to rocky cliffs, woodland edges, or dense spinifex grasslands. Even closely related species often avoid direct competition by being active at different times of the day or by hunting different prey. That level of ecological isolation allows unusually large numbers of lizards to exist in the same general landscape. Areas that appear similar to humans may actually contain dozens of different micro-habitats based on shade, soil texture, shelter, and temperature variations.Frequent climate instability has probably accelerated this process. The habitat expanded during wet periods and contracted during dry periods, allowing populations to remain isolated for long periods of time and gradually became genetically distinct.

Why skinks became one of Australia’s most successful lizard groups

The Skinks became particularly successful throughout Australia. Although many appear superficially similar, they occupy a remarkable range of environments and lifestyles. Some people remain buried under sand for most of their lives. Others climb vegetation or hide under leaf litter and fallen wood.The recent evolutionary study was published in ScienceDirect, titled “ Sphenomorphini revealed: a phylogenomic framework and generic reappraisal for Australia’s most species-rich vertebrate radiation”, This suggests that the Sphenomorphini radiation continued to spread as new environments emerged across the continent. Some groups adapted well to dry inland habitats, while others remained associated with wetter coastal forests and tropical regions.That flexibility helped create diversity over time. When environmental conditions changed, some populations expanded into new areas, while individual groups adapted to local pressures. Ultimately, those populations became separate species. There are now over a thousand lizard species in Australia, with skinks being one of the largest components of that diversity.

Desert conditions encourage lizard diversity in Australia

Deserts are often imagined to be biologically sparse, yet Australian deserts support unusually rich reptile communities. In some areas, scientists have recorded very high concentrations of lizard species living in relatively small spaces.According to the report of physics.orgAustralian desert reptiles suggest that environmental unpredictability may actually encourage coexistence rather than diminish it. Precipitation falls irregularly, temperatures change rapidly between day and night, and food availability is constantly changing. In those circumstances, species survive by exploiting slightly different resources or activity periods. Small differences become important. One species may forage shortly after sunrise while the other is active later in the day. Some prefer open ground exposed to sunlight, while others stay close to shady vegetation or rocky shelter. Over evolutionary time, those distinctions reduced direct competition enough for many species to coexist. Therefore, Australia’s reptile diversity reflects long-term interactions between climate, geography and adaptation rather than any single defining cause.

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Red Fort blast case: NIA files 7,500-page chargesheet in terrorist conspiracy, names 10 accused. india news

Red Fort blast case: NIA files 7,500-page charge sheet in terrorist conspiracy, names 10 accused

New Delhi: The National Investigation Agency (NIA) on Thursday filed a massive 7,500-page chargesheet against 10 persons linked to the Red Fort car bomb blast. The high-intensity blast that occurred on November 10, 2025, involved a vehicle-borne improvised explosive device (VBIED), killing 11 people, injuring several others and causing massive property damage.The document filed before the NIA special court at Patiala House names 10 accused linked to Ansar Ghazwat-ul-Hind (AGUH), the branch of al-Qaeda in the Indian Subcontinent (AQIS). The chargesheet, supported by 588 oral testimonies, 395 documents and over 200 material exhibits, details how the group procured specialized laboratory equipment such as MMO anodes and electronic circuits from both online and offline sources. The accusers also include the alleged mastermind, Dr Umar Un Nabi, a former assistant professor of medicine at Al-Falah University in Faridabad. While Nabi is now dead – his identity has been confirmed through DNA fingerprinting – the charges against him are proposed to be dropped, while proceedings against Aamir Rashid Mir, Jasir Bilal Wani, Dr Muzamil Shakeel, Dr Adeel Ahmed Rather, Dr Shaheen Saeed, Mufti Irfan Ahmed Wage, Soyeb, Dr Bilal Naseer Malla and Yasir Ahmed Dar continue.The NIA’s detailed investigation, spanning Jammu and Kashmir, Haryana, Uttar Pradesh, Maharashtra, Gujarat and Delhi NCR, paints a chilling picture of a conspiracy involving radical medical professionals. According to the agency, after a failed attempt to migrate to Afghanistan via Turkey, the accused met secretly in Srinagar to form “AGUH Interim” in 2022. Under this banner, he launched “Operation Heavenly Hind”, aimed at overthrowing the Indian government to impose Sharia rule. The investigation revealed that the group manufactured triacetone triperoxide (TATP) explosives using commercially available chemicals and conducted experiments to perfect the mixture. Evidence suggests the module was also experimenting with advanced weaponry, including rockets and drone-mounted IEDs, aimed at targeting security installations across India.Apart from the explosives, the NIA found that the accused had illegally stored banned weapons, including AK-47 and Krynkov rifles. Searches conducted at Al-Falah University and various locations in Jammu and Kashmir provided forensic and voice analysis data that strengthened the case. While 11 people have been arrested in connection with case RC-21/2025/NIA/DLI, the NIA confirmed that efforts to track the remaining fugitives are still on. The accused face multiple charges under the UA(P) Act, Indian Justice Code, Explosive Substances Act, Arms Act and Prevention of Damage to Public Property Act.

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Influencer ‘The Skin Doctor’ arrested for posting against Sanjay Kapoor’s family, gets bail. delhi news

संजय कपूर के परिवार के खिलाफ पोस्ट करने पर गिरफ्तार प्रभावशाली 'द स्किन डॉक्टर' को जमानत मिल गई

Dr. Neelam Singh, aka The Skin Doctor, and Sanjay Kapoor (left)

New Delhi: Social media influencer and dermatologist Dr Neelam Singh, known online as “The Skin Doctor”, has been granted bail after being arrested. Delhi Police Over alleged social media posts targeting the Kapoor family after the death of businessman Sanjay Kapoor.According to police sources, a complaint was filed at the Vasant Kunj police station on behalf of the Kapoor family, accusing the influencer of posting objectionable content related to Sanjay Kapoor’s death.Acting on the complaint, Delhi Police arrested Dr Neelam Singh late on Wednesday night, who later got bail.Dr Neelam Singh, a dermatologist who has a huge following on social media, runs an account with the name “The Skin Doctor”.His Instagram bio describes him as “a socio-politically conscious dermatologist.” Apart from skin and health related content, she is also known for commenting on political and social issues.The arrest comes amid an escalating legal battle within the Kapoor family over Sanjay Kapoor’s estate and will.On Tuesday, Sanjay Kapoor’s mother approached the Supreme Court with a fresh petition, seeking to restrain Priya Sachdev Kapoor and some others from interfering in the functioning of the “RK Family Trust” till the completion of the mediation proceedings initiated by the apex court on May 7.They also sought a stay on the board meeting to be held on May 18 by Raghuvanshi Investments Pvt Ltd, which reportedly controls a large portion of the disputed family assets.The dispute, which involves assets worth around Rs 30,000 crore, is said to be ongoing before the High Court, with interim orders currently protecting the assets pending the final decision.Sanjay Kapoor, chairman of Sona Comstar and former husband of Karisma Kapoor, died while playing polo in London on June 12. Medical findings later confirmed that his death was natural and linked to cardiac complications.

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PBKS’s IPL 2026 playoff chances are under threat of rain! What will happen if MI vs match gets cancelled? cricket news

PBKS's IPL 2026 playoff chances are under threat of rain! What if MI vs match gets cancelled?
Rain threatens PBKS’s IPL 2026 playoff prospects (Image: IPL/BCCI)

face punjab kings Mumbai Indians It is important to win this match to strengthen their playoff hopes, but the threat of rain in Dharamshala during the match may affect the chances of Punjab Kings.Dharamshala weather forecast indicates a 55% to 60% chance of rain and storm for tonight’s match, making it possible for rain to interrupt or completely wash out the match. The Indian Meteorological Department has issued a ‘Yellow Alert’ for the Kangra Valley as the pre-match practice session at the HPCA Stadium has already been disrupted due to heavy rain and overcast skies. Punjab Kings are currently placed fourth with 13 points from 11 matches and a net run rate (NRR) of +0.428. they are closely followed Chennai Super Kings (+0.185 NRR) and Rajasthan Royals (+0.082 NRR), both have 12 points.If the IPL 2026 match in Dharamsala is abandoned due to rain, both teams will get one point each, resulting in a “no result”. However, with Mumbai Indians already mathematically out of the playoff race, points shared would have had very different results for both sides.

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Madhav Tiwary of Delhi Capitals shows his brilliant all-round performance

What does this mean for Punjab Kings (PBKS)

A washout will take PBKS to 14 points, helping them maintain a slight lead over chasing teams like Chennai Super Kings and Rajasthan Royals, who are both currently on 12 points.However, the bigger concern for Punjab will be the impact on their top two hopes. If they win their remaining two matches against Royal Challengers Bangalore and Lucknow Super Giants, their maximum possible points will be 18 if there is no result. This will significantly reduce their chances of finishing ahead of table-toppers RCB and Gujarat Titans, both of whom already have 16 points. This will also be Punjab’s second canceled game of the season, making them the only team in the current top four to rely on split points rather than an outright win.

What does this mean for Mumbai Indians (MI)

For Mumbai Indians, who are already out of the playoff race, a washout will mainly deny them the chance to play spoiler against their direct opponent in the playoff race. However, the single point will take MI slightly ahead of Lucknow Supergiants at the bottom of the table, which will help a bit in their attempt to avoid finishing at the bottom of the standings.

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‘Letter in the drawer’: Donald Trump left succession instructions for JD Vance in the Oval Office

'Letter in the drawer': Donald Trump left succession instructions for JD Vance in the Oval Office

US President Donald Trump has left detailed instructions for Vice President JD Vance in case of an assassination attempt or other emergency during his second term, a senior White House official has claimed.Sebastian Gorka, who serves as Deputy Assistant to the President and Senior Director of Counterterrorism, made the comments during an interview on the “Pod Force One” podcast hosted by Miranda Devine.According to the New York Post report, Gorka said, “There’s a letter in the Resolute desk drawer that’s addressed to the Vice President, in case anything happens to him.”“We have protocols, trust me. I can’t discuss them, but we have protocols,” he said.Gorka talked about succession arrangements while discussing security concerns surrounding Trump’s ongoing trip to China.

This comment has come during Trump’s visit to China

Trump is currently in Beijing for high-level talks with Chinese President Xi Jinping focusing on trade relations, artificial intelligence and broader geopolitical tensions.Gorka dismissed fears that foreign powers might attempt to target Trump during the visit, despite calling the president an “existential threat to China.”“He alone stands between them and world domination, so they have every reason in the world to take him out,” Gorka said, before adding that he did not believe such an attack would occur.“I have no fear at all of him doing anything,” he said. “The president is very safe in my estimation.”Gorka also praised Trump’s global influence and said, “Everyone wants recognition from this guy. This is the most powerful man we’ve seen since guys like Eisenhower.”

Trump has survived several assassination attempts

The comments follow several assassination attempts targeting Trump in recent years.Trump survived an assassination attempt during a campaign rally in Butler, Pennsylvania, in July 2024, when gunman Thomas Matthew Crooks shot and killed the president in the ear before being shot by Secret Service personnel.Another suspect, Ryan Routh, was later arrested for hiding with a rifle near Trump’s Florida golf course. He was charged and later sentenced to life imprisonment, the report said.More recently, another incident occurred during the White House Correspondents’ Dinner in Washington in April, when a suspect identified as Cole Thomas Allen breached a security checkpoint and opened fire before being apprehended by security personnel.Trump, First Lady Melania Trump and JD Vance were evacuated safely.Under the US Constitution, the Vice President is first in line to assume the presidency. The Presidential Succession Act of 1947 further outlines the order of succession after the Vice President.

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New Bengal government bans public slaughter of cattle and buffaloes, makes official fitness certificate mandatory. india news

New Bengal government bans public slaughter of cattle and buffaloes, makes official fitness certificate mandatory

New Delhi: The newly elected BJP government in West Bengal has issued an amended public notice under the West Bengal Animal Slaughter Control Act, 1950, to strictly enforce cattle slaughter rules, reiterating that no cattle or buffalo can be slaughtered without mandatory official certification declaring the animal fit for slaughter.The notice also clarifies that no slaughter can take place in open public places, animals are allowed to be slaughtered only at municipal slaughterhouses or specially designated facilities by the local administration.Under the rules, a fitness certificate will be issued only when the Chairman of the Municipality or the Chairman of the Panchayat Samiti, jointly with the Government Veterinary Officer, certifies in writing that the animal is either above 14 years of age and no longer fit for work or breeding, or has become permanently disabled due to old age, injury, deformity or any incurable disease.If an application for certification is rejected, the applicant may appeal to the State Government within 15 days of receiving the rejection.Violation of the West Bengal Control of Slaughter of Animals Act, 1950 is punishable with imprisonment up to six months, fine up to Rs 1,000, or both.The move cites provisions of the 1950 law as well as a 2018 Calcutta High Court order, effectively strengthening existing legal restrictions rather than introducing an entirely new law.The development comes days after the BJP’s landslide victory in the West Bengal Assembly elections, marking the end of Trinamool Congress’s 15-year rule. Mamata Banerjee. The BJP won 206 seats in the 294-member assembly, much higher than its previous tally of 77, while the TMC was reduced to 80 seats.The revised notice is one of the first major administrative measures announced by the new government under Chief Minister Suvendu Adhikari.

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Amazon cuts more jobs after announcing 30,000 layoffs in last six months; The company says: We regularly review our organization to ensure…

Amazon cuts more jobs after announcing 30,000 layoffs in last six months; The company says: We regularly review our organization to ensure...

Amazon has announced another round of job cuts, this time affecting its Selling Partner Services division, after cutting nearly 30,000 jobs in the last six months. The division works closely with millions of third-party merchants on onboarding, logistics and account support. According to a report by Business Insider, a company spokesperson confirmed that the layoffs involve a “small number” of employees. The company’s move will lead to about 30,000 layoffs in October and January, as well as smaller cuts at its robotics division in March.

amazon layoffs: The company said this

“We regularly review our organizations to ensure we are best prepared to achieve our goals,” the spokesperson said. “Following a recent review, we have made the difficult decision to eliminate a relatively small number of roles in our Selling Partner Services team. We do not make decisions like this lightly, and we are committed to supporting affected employees with transitional health care, severance payments and outsourced job placement services.The latest round of job cuts at Amazon underscores how the e-commerce major is working to reshape its vast retail organization under CEO Andy Jassy, ​​who has emphasized efficiency and cost discipline over the past two years. While the first layoffs were framed as a response to pandemic-era overexpansion, the continued cuts show that Amazon is still fine-tuning the workforce across many businesses.

AI investment and workforce concerns

On one hand, while jobs are being cut, on the other hand, Amazon is also aggressively expanding its AI investments. The company is investing heavily in AI in retail, logistics and advertising. Amazon executives have also asked teams to adopt AI tools to automate routine tasks and streamline operations. Some employees are worried this could lead to further role cuts, a concern Jassie himself acknowledged last year when he said AI could help “reduce” the company’s workforce over time.

Amazon CEO Andy Jassy tells investors not to be afraid of AI spending

Recently, Amazon CEO Andy Jassy said that investors should not worry about Amazon’s heavy spending on AI, arguing that it will drive long-term growth. Speaking recently on “Mad Money,” Andy Jassy said the company’s big investment in AI infrastructure is necessary and that’s why investors will be rewarded over time. Jesse described AI as a major turning point in technology. “We believe AI is the biggest technology change in our lifetime,” he said. “It’s going to reshape every customer experience we know and completely new experiences we never even imagined.” Andy Jassy said the scale of Amazon’s investment reflects the size of the opportunity.Amazon said earlier this year that it planned to invest $200 billion in capital spending, primarily focused on AI infrastructure such as data centers. The announcement initially caused concern in the market, with shares falling following the company’s earnings report. However, the stock later recovered and has since hit new highs. Jassi said that when the opportunity is big then such expenditure is necessary. “When you have such a significant shift … you want to bet big,” he said.

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