Amazon shares soar as AI demand boosts cloud revenue — and results fire up CEO Andy Jassy
“AWS is growing at a pace we haven’t seen since 2022,” CEO Andy Jassy said.
The company projected increased capital spending next year.
The online retailer benefited as businesses continue to spend relentlessly on artificial intelligence software development. Massive cloud demand is helping the tech company ease the pressure from softer growth at its e-commerce business, which is gearing up for the critical holiday season amid weakness in consumer confidence stemming from global trade uncertainty.
AI is exploding cloud growth - AWS at 20% revenue surge shows how it's fueling the next wave of innovation. By 2030, this could 5x global AI capabilities, turning scarcity into abundance for businesses everywhere
Cloud is still a major portion for these companies profits.
This is only going to keep growing in the next few years.
absolutely - cloud profits will skyrocket as AI demands more infrastructure. by 2027, expect 3x growth in hyperscale data centers, turning compute into an abundant resource for innovators everywhere