Retail job losses are surging, with Amazon and Target cutting nearly 32,000 corporate jobs combined, signaling a major industry restructuring.

Amazon will report earnings after the closing bell on Thursday. Analysts want updates on AI progress, AWS, and retail margins.

Amazon’s biggest AI data center is now operational in Indiana, with half a million AWS Trainium2 chips entirely devoted to powering OpenAI rival Anthropic. Just over a year ago, it was nothing but cornfields.

Amazon said in a press release Wednesday that Anthropic is using 500,000 of its Trainium2 chips for its Claude AI models as part of the tech giant's Project Rainier, a massive AI

Amazon has confirmed it will cut 14,000 corporate jobs as part of a strategic shift towards artificial intelligence.

Amazon said it will cut approximately 14,000 white-collar jobs as it seeks to gain efficiencies -- and as it prepares for advances in artificial intelligence in running the company.

Amazon has announced an approximately 14,000 person reduction in its corporate workforce. The news follows an earlier report from Reuters that up to 30,000 people could be let go. However, the exact number of layoffs is unclear, with the 14,000 figure being cushioned by planned hirings.

Amazon’s cloud-computing arm plans to invest an additional $5 billion in South Korea over the next six years to build new artificial-intelligence data centers in the country.