- Published on August 7, 2023
- In AI Features
How Amazon’s Bad Investments Led it on Thin Ice
The tech giant has made over 200 investments and 106 acquisitions but the aftermath is not praiseworthy
- By Tasmia Ansari
Amazon’s stake in electric vehicle maker Rivian was once worth $27 billion—that was in November, shortly after its IPO. The past years, the EV maker has been constantly struggling with production, parts, and supply chain issues, resulting in Rivian’s stock price plummeting to a 52-week low in 2022.
Started originally in 1995 as an online bookstore Amazon has expanded the business alongside its flagship search with the market throughout the years. But of course not every investment has panned out well for the company.
With Amazon owning about 17% of Rivian, the investment cost the company annual loss of $2.7 billion last year–its first unprofitable year since 2014 and a record annual loss for the company. The fiasco with Rivian has led Amazon to the list of t
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Tasmia Ansari
Tasmia is a tech journalist at AIM, looking to bring a fresh perspective to emerging technologies and trends in data science, analytics, and artificial intelligence.
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