Amazon Stock up 7% as AI Growth Drives AMZN Surge
Following its highly anticipated earnings report that debuted Thursday, Amazon (AMZN) stock is up as much as 7% as AI growth is driving the surge. The earnings call provided a clear opportunity for the firm to discuss the positive trajectory for some of its most important businesses. Ultimately, spurning Wall Street to respond positively over its prospects. During the call, CEO Andy Jassy noted that its AI business is growing a remarkable three times faster than Amazon Web Services (AWS) while at similar development points. Considering the incredible success that AWS—the company’s cloud-based computing business—has had, traders appeared immensely optimistic about its future. Source: Amazon Also Read: Amazon (AMZN) Q3 Earnings: Rufus AI Launch Sparks After-Hours Stock Rise Amazon Gets Massive Boost From Q3 Earnings as Investors Show Belief in AI One of the most promising stocks heading into 2024 was easily Amazon. Not only is the company an e-commerce tycoon, but it has also shown ...