Amazon will shut down its AI research lab in a cost-cutting move as tensions flare with China and as other global companies even seek to leave the nation because of Chinese influence.

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Amazon Prime Day results were mixed with web traffic down but growth estimates up 4.9%. Year-to-date consumer momentum remains strong, suggesting a good 4Q in retail.

Ecommerce group Amazon is shutting down its Shanghai artificial intelligence lab, becoming the latest US company to retreat from Chinese research efforts amid rising geopolitical tensions.

Amazon has had a mixed bag with wearables endeavors. It still sells Echo Frames smart glasses, but shuttered its Halo health tracker in 2023. The AI angle of Bee may be of particular interest for Amazon,

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Amazon is shutting down its Shanghai artificial intelligence lab, which was established by its cloud services arm in 2018, the Financial Times reported on Wednesday.

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