Jassy wrote that he's committed to keep cutting costs even as the company doubles down on new growth areas like AI.his annual shareholder letter, where he pledged to look for ways to keep costs in check even as the company doubles down on investing in new growth areas like artificial intelligence.
"While we're building a substantial number of GenAI applications ourselves, the vast majority will ultimately be built by other companies," Jassy said. "However, what we're building in AWS is not just a compelling app or foundation model." Further, Amazon's operating income and Free Cash Flow dramatically improved. Operating income in 2023 improved 201% YoY from $12.2B to $36.9B . Trailing Twelve Month FCF adjusted for equipment finance leases improved from -$12.8B in 2022 to $35.5B .
We also continue to improve delivery speeds, breaking multiple company records. In 2023, Amazon delivered at the fastest speeds ever to Prime members, with more than 7 billion items arriving same or next day, including more than 4 billion in the U.S. and more than 2 billion in Europe. In the U.S., this result is the combination of two things. One is the benefit of regionalization, where we re-architected the network to store items closer to customers.
Alongside our Stores business, Amazon's Advertising progress remains strong, growing 24% YoY from $38B in 2022 to $47B in 2023, primarily driven by our sponsored ads. We've added Sponsored TV to this offering, a self-service solution for brands to create campaigns that can appear on up to 30+ streaming TV services, including Amazon Freevee and Twitch, and have no minimum spend.
In October, we hit a major milestone in our journey to commercialize Project Kuiper when we launched two end-to-end prototype satellites into space, and successfully validated all key systems and sub-systems—rare in an initial launch like this. Kuiper is our low Earth orbit satellite initiative that aims to provide broadband connectivity to the 400-500 million households who don't have it today , and is a very large revenue opportunity for Amazon.
Of course, this concept of primitives can be applied to more than software development, but they're especially relevant in technology. And, over the last 20 years, primitives have been at the heart of how we've innovated quickly.. Let me give you two counter examples that illustrate this point.
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