AWS CEO Dismisses 'SaaS Apocalypse' Fears Amid AI Boom

• AWS CEO Matt Garman calls investor anxiety over AI's impact on software growth "overblown."
• Garman suggests markets are overreacting to the rapid rise of AI-powered software like ChatGPT.
• Despite a 24% drop in the iShares Expanded Tech-Software Sector ETF, AWS revenue rose 24% to $35.6 billion in Q4.
• AWS continues to serve major software customers and benefits from demand from AI developers, including a $38 billion commitment from OpenAI.
• Garman believes overall demand for compute and infrastructure will increase, regardless of AI adoption methods.