Reported about 10 hours ago
Amazon's cloud services, particularly Amazon Web Services (AWS), reported a substantial 20% year-over-year revenue increase in Q3, reaching $33 billion, surpassing analyst expectations. This growth alleviated investor concerns about the company's heavy investments in AI, reaffirming the demand for cloud services amid rising AI needs. Amazon's stock saw a notable rise, and CEO Andy Jassy highlighted promising AI-driven products, signaling strong potential for continued growth in the sector.
Source: YAHOO