Amazon Shares Jump as AI-Powered AWS Growth Boosts Third-Quarter Results
Amazon’s shares surged after the company reported strong third-quarter results driven by exceptional growth in its cloud computing arm, Amazon Web Services (AWS). Revenue at AWS — the center of Amazon’s aggressive artificial intelligence investments — jumped 20%, surpassing market expectations and underscoring the company’s dominance in the cloud sector. CEO Andy Jassy credited the surge to rising global demand for AI-driven solutions and cloud infrastructure, as businesses increasingly adopt generative AI tools and machine learning services. Amazon’s overall quarterly revenue also saw solid gains, supported by robust e-commerce sales and advertising growth. Investors reacted positively, pushing the company’s stock to its highest level in over a year. Analysts said the performance reinforces Amazon’s strategic focus on AI as the next big growth driver, positioning AWS as a key player in the global tech race.
