Amazon stock has been a laggard among its Magnificent Seven peers, but Wall Street is bullish that the latest results will show AI-driven strength.

By Dawn Chmielewski and Greg Bensinger LOS ANGELES, Feb 4 (Reuters) - Amazon plans to use artificial intelligence to speed up the process for making movies and TV shows even as Hollywood fears that AI will cut jobs and permanently reshape the industry.

Amazon MGM Studios will reportedly begin a closed beta program in March to test its AI tools to help with film and TV production.

Amazon is stepping up its use of artificial intelligence to accelerate film and television production, as studios across Hollywood struggle with rising costs and growing anxiety over

Amazon is experimenting with a new AI studio to produce films and series more efficiently. The company plans to present initial results in May.

Stanley Druckenmiller, one of the most successful hedge fund managers in history, sold Microsoft and bought Amazon in the third quarter.

For the quarter, Amazon is expected to report earnings per share (EPS) of $1.96 on revenue of $211.5 billion, up from $1.86 and $187.8 billion in the same period last year. That represents a 5% jump in EPS and a roughly 13% increase in revenue.

While Amazon doesn't explicitly state what that means, the New York Times reports that the company intends to shift resources to artificial intelligence and the data centers that AI requires. As mentioned in their report, Amazon spent around $125 billion last year on data centers and related expenditures.

By Greg Bensinger Jan 28 (Reuters) - Amazon confirmed 16,000 corporate job cuts on Wednesday, completing a plan for around 30,000 since October, while leaving open the possibility of further reductions.

Amazon reports Q4 earnings Thursday, capping a tech earnings season dominated by a single question: whether the industry's AI spending binge will ultimately be worth it.