Amazon’s AI Assistant Rufus Poised to Unlock $56 Billion in Sales Growth by 2028

Amazon's latest AI gambit, Rufus, isn't just another chatbot—it's a potential revenue rocket. The e-commerce giant is betting its new shopping assistant can fundamentally reshape how consumers find and buy, targeting a massive $56 billion sales boost within the next few years.

The AI Shopping Engine

Rufus cuts through the noise of endless scrolling. It bypasses generic search results by understanding complex, conversational queries. Think of it as a super-powered shopping concierge trained on Amazon's colossal product catalog and web data—answering specific questions, comparing products, and making tailored recommendations directly within the search box.

From Query to Cart

The strategy is simple: make discovery effortless and purchasing inevitable. By guiding users from vague intent—'good gifts for a camping trip'—to precise, purchase-ready product pages, Rufus aims to drastically boost conversion rates. It's about owning the entire commercial journey, from initial curiosity to the final 'Buy Now' click.

The $56 Billion Question

Hitting that lofty sales target means Rufus must become indispensable. It needs to consistently deliver value that keeps users inside Amazon's ecosystem, turning casual browsers into committed buyers. The tech works, but the real test is consumer adoption and trust. Can an AI assistant truly replace the human instinct to hunt for a deal?

One cynical finance jab: Wall Street's already priced in the growth, as usual—betting on future billions before the first AI-recommended lawn chair even ships.

The bottom line? Amazon is deploying AI not just for novelty, but for cold, hard revenue growth. Rufus represents a direct monetization of artificial intelligence, transforming conversational queries into a projected $56 billion sales stream. If it works, it changes the online shopping game entirely. If it doesn't, it's another expensive experiment in a warehouse full of them.

TLDR

• Amazon stock has gained about 170% over the past three years, more than doubling the S&P 500’s 80% gain.
• Evercore ISI maintains an Outperform rating with a $335 price target, seeing 48% upside from current levels around $226.
• Amazon’s AI shopping assistant Rufus reached 250 million users in 2025 and generated $10 billion in additional gross merchandise value.
• Customers using Rufus are 60% more likely to complete purchases compared to those who don’t use the AI assistant.
• Analysts project Amazon’s AI commerce features could add $31 billion in revenue and $6.8 billion in operating income by 2028.

Amazon stock has been on a tear. Over the last three years, shares jumped 170% while the S&P 500 managed less than 80%.

Amazon.com, Inc., AMZN

Now analysts at Evercore ISI think the party’s far from over. They’re sticking with their Outperform rating and $335 price target.

That’s about 48% higher than the current price of $226. The reason? An AI shopping assistant you might not have heard of yet.

Rufus is Amazon’s answer to the AI revolution happening across retail. More than 250 million customers used it in 2025.

That’s not just a big number. It translated into $10 billion in extra merchandise sold.

Here’s the kicker: shoppers who use Rufus are 60% more likely to actually buy something. That conversion rate boost matters when you’re running the world’s largest online marketplace.

Evercore ISI projects Rufus and other AI commerce tools could pump up Amazon’s retail business by $56 billion in gross merchandise value by 2028. That’s a 4.4% increase.

And this is before most customers even know Rufus exists. Amazon hasn’t rolled out all its planned AI features yet either.

The Advertising Question

Some investors worry AI assistants might cannibalize advertising revenue. After all, if AI is guiding purchases, why WOULD sellers need to pay for promoted listings?

Evercore sees it differently. They estimate Rufus could actually boost ad revenue by $4 billion or 3% by 2028.

The logic makes sense. When AI helps customers find what they want, those shoppers have higher intent.

Higher intent means they’re closer to buying. That makes them more valuable to advertisers willing to pay for those eyeballs.

Amazon’s advertising business already pulls in about 9% of total revenue. It’s becoming a secondary profit engine alongside Amazon Web Services.

AWS remains the crown jewel. It generated 60% of Amazon’s operating profit in the first nine months of 2025 despite accounting for just 18% of sales.

The cloud business controls 32% of the global market. Microsoft Azure sits at 22% and Google Cloud at 11%.

That dominance lets Amazon run its retail operations on razor-thin margins. Prime membership has topped 240 million paid subscribers.

The whole ecosystem works because AWS profits subsidize everything else. Cheap prices and fast shipping keep customers locked in.

Over the past three years, Amazon’s operating margin expanded from 2.4% in 2022 to 10.9% in the first nine months of 2025. Revenue growth hit double digits again after a slowdown during the inflation spike.

The Numbers Going Forward

Analysts expect revenue and earnings per share to grow at 12% and 20% annually through 2027. The stock trades at 29 times 2026 earnings.

If Amazon keeps up a 15% EPS growth rate through 2029 at the same valuation multiple, shares could climb more than 60% over three years. That would beat the S&P 500’s typical 10% annual return.

Evercore ISI estimates AI-powered commerce features could add $31 billion to Amazon’s 2028 revenue. That’s a 3% bump.

Operating income could see a bigger boost of $6.8 billion or 4.6%. The company trades at a PEG ratio of 0.62, suggesting the stock remains undervalued relative to growth.

Amazon Web Services revenue grew 11.48% over the last twelve months, reaching $691.33 billion in total company revenue. The AI boom in cloud spending shows no signs of slowing.

Rufus usage continues climbing before full feature rollout. AutoBuy and Predicting Bundling are still in development.