Amazon shares surge 13% as cloud growth eases AI spending fears
2 sources·Updated July 31, 2026
Covered by 2 sources
- ET Markets·10h agoAmazon shares surge 13% as cloud growth eases AI spending fears
Amazon shares rose sharply on Fridat after stronger-than-expected growth at its cloud business reinforced investor confidence in the company's AI investments. AWS posted its fastest revenue growth in over four years, while management's upbeat outlook helped ease concerns over…
Read at ET Markets → - ET Tech·23h agoAmazon to boost spending on AI and other technology by $20 billion after strong Q2 results
The Seattle-based company said Thursday that sales in its cloud computing unit called AWS rose 37% during the April-June period, faster than the 28% clip in the previous quarter and marking the fastest rate of growth in 18 quarters.
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