MAM
Bob Iger joins Thrive Capital as adviser after Disney exit
Former Disney CEO returns to VC firm, stays on as Disney adviser till 2026.
MUMBAI: From castles to capital, Bob Iger isn’t done building just changing the blueprint. Bob Iger has taken on an advisory role at Thrive Capital, marking a return to the New York-based venture firm he briefly joined in 2022. Founded in 2009 by Josh Kushner, Thrive Capital has been positioning itself at the intersection of technology and long-term value creation, an area where Iger’s experience in scaling global entertainment businesses is expected to add weight. Kushner, 40, welcomed Iger back, highlighting his ability to blend technology with human-centric storytelling, particularly in an era increasingly shaped by artificial intelligence.
Iger is no stranger to Thrive. He had earlier joined the firm as a venture partner in September 2022, after stepping down as CEO of The Walt Disney Company and concluding his tenure as executive chairman in 2021. That stint, however, was short-lived. In November 2022, Disney’s board brought him back to steady the ship, replacing Bob Chapek following a turbulent period for the company.
Now, with his latest exit from Disney’s top job last month, Iger appears to be revisiting the venture world, this time with a clearer runway. Still, the Disney chapter isn’t entirely closed. Under his agreement with the company, he will remain until the end of 2026 as a senior adviser to new CEO Josh D’Amaro and will continue to serve on the board for his current term.
The move comes as venture firms increasingly seek operators with deep industry experience to navigate what Kushner described as “the most consequential technology shift” of the era, driven by AI. For Iger, whose career has hinged on blending creativity with scale, the transition from Hollywood to high-growth investing seems less like a pivot and more like a plot twist.
Brands
Amazon Q1 revenue jumps 17 per cent to $181.5bn, profit soars to $30.3bn
AWS surges 28 per cent while AI bets reshape cash flow and drive future growth
SEATTLE: Amazon kicked off 2026 with a strong first quarter, reporting a 17 per cent year-on-year jump in net sales to $181.5 billion, up from $155.7 billion in the same period last year, as growth across cloud, advertising, and retail continued to gather pace.
Excluding a $2.9 billion favourable impact from foreign exchange, sales still rose a solid 15 per cent, underlining broad-based demand across its businesses.
The company’s cloud arm, Amazon Web Services, remained the star performer, with revenue climbing 28 per cent to $37.6 billion. Operating income for AWS reached $14.2 billion, up from $11.5 billion a year ago, reinforcing its role as Amazon’s profit engine.
Meanwhile, North America sales rose 12 per cent to $104.1 billion, while international revenue increased 19 per cent to $39.8 billion, or 11 per cent excluding currency effects.
Profit growth outpaced revenue. Operating income climbed to $23.9 billion from $18.4 billion last year, while net income surged to $30.3 billion, or $2.78 per share, compared with $17.1 billion, or $1.59 per share, in the first quarter of 2025. A significant boost came from $16.8 billion in pre-tax gains linked to Amazon’s investment in Anthropic.
Cash generation also strengthened, with operating cash flow rising 30 per cent to $148.5 billion over the trailing twelve months. However, free cash flow dropped sharply to $1.2 billion from $25.9 billion, largely due to a $59.3 billion increase in capital expenditure, primarily tied to artificial intelligence investments.
Commenting on the results, Amazon president and CEO Andy Jassy said, “We’re making customers’ lives easier and better every day across all our businesses, and their response is driving significant growth.”
He added that AWS growth of 28 per cent marked its fastest pace in 15 quarters, while Amazon’s chips business crossed a $20 billion annual revenue run rate, growing at triple-digit rates. Advertising revenue also crossed $70 billion on a trailing twelve-month basis, and store unit growth hit 15 per cent, its highest since the tail end of pandemic lockdowns.
Artificial intelligence remained front and centre of Amazon’s strategy. The company deepened partnerships with OpenAI, Meta, NVIDIA and Uber, while expanding its proprietary chip ecosystem including Trainium and Graviton.
Amazon revealed that it has already deployed over 2.1 million AI chips in the past year and plans to roll out more than one million NVIDIA GPUs starting in 2026. OpenAI alone is expected to consume around two gigawatts of Trainium capacity for advanced AI workloads beginning in 2027.
The company also highlighted rapid adoption of its AI services, with Amazon Bedrock processing more tokens in the first quarter than in all previous years combined, and customer spending on the platform rising 170 per cent quarter-on-quarter.
Beyond cloud and AI, Amazon continued to scale its consumer and logistics ecosystem. It delivered more than one billion items via same-day or overnight delivery so far in 2026 and expanded ultra-fast delivery services across multiple global markets. Prime Video also saw strong engagement, including sports streaming growth and box office success for original content like Project Hail Mary, which has grossed nearly $615 million globally.
Looking ahead, Amazon expects second-quarter net sales to reach between $194 billion and $199 billion, representing growth of 16 per cent to 19 per cent year-on-year. Operating income is projected between $20 billion and $24 billion.
Despite macro uncertainties ranging from foreign exchange fluctuations to global economic conditions, Amazon appears to be leaning into its biggest bets yet. With AI investments accelerating and cloud demand holding firm, the company is positioning itself not just for growth, but for what it calls the next big inflection in technology and commerce.
