Reported about 8 hours ago
Amazon.com shares dipped 2% following a report of lower-than-expected cloud revenue growth, raising investor worries about slow returns on AI investments. This trend mirrors struggles faced by Microsoft and Google amidst infrastructure bottlenecks that hinder growth, prompting significant data center investments. Despite the challenges, Amazon's AWS unit showed a 19% revenue increase to $28.79 billion, slightly below expectations, and analysts noted signs of market share gain. Overall, while Amazon faces scrutiny, it appears to be outpacing its rivals in cloud business growth.
Source: YAHOO