If announced, this would mark Alexa's most significant evolution since its debut in 2014. Although Amazon has long been a leader in the AI assistant space, the landscape is rapidly shifting. Companies like OpenAI, Google and Anthropic are rolling out increasingly sophisticated AI assistants capable of multitasking and completing complex requests.

The new generative AI-powered Alexa represents at once a huge opportunity for Amazon, which counts more than half a billion Alexa-enabled devices in the market, and a tremendous risk. Amazon is hoping the revamp,

Amazon will host an event on Feb. 26 that may include the launch of a revamped Alexa the company has been teasing for more than a year. Amazon typically holds an event each fall to launch its latest Echo devices ahead of the holiday shopping season,