Amazon's stock price soared. Previously announced cloud computing business revenue exceeded analysts' expectations, and strong demand for artificial intelligence services accelerated sales for the fifth consecutive quarter. After the opening of the New York market on Friday, Amazon's stock price once rose nearly 15%, the biggest intraday increase since November 2022. Amazon issued a statement on Thursday saying that in the quarter ending June 30, the revenue of its cloud computing business Amazon Web Services increased 37% to 42.2 billion US dollars. This is the fastest growth rate since the fourth quarter of 2021. According to data compiled by Bloomberg, analysts expect an average revenue of $40.6 billion for AWS. AWS contributes about one-fifth of Amazon's revenue and most of its operating profit. Amazon reports that for the quarter ending June 30, the company spent more than $53 billion on properties and equipment. Amazon previously said that capital project expenditure is expected to reach 200 billion US dollars this year, mainly for artificial intelligence-related projects, so investors are closely monitoring whether the company has signs of excessive investment.

Amazon's stock price soared. Previously announced cloud computing business revenue exceeded analysts' expectations, and strong demand for artificial intelligence services accelerated sales for the fifth consecutive quarter. After the opening of the New York market on Friday, Amazon's stock price once rose nearly 15%, the biggest intraday increase since November 2022. Amazon issued a statement on Thursday saying that in the quarter ending June 30, the revenue of its cloud computing business Amazon Web Services increased 37% to 42.2 billion US dollars. This is the fastest growth rate since the fourth quarter of 2021. According to data compiled by Bloomberg, analysts expect an average revenue of $40.6 billion for AWS. AWS contributes about one-fifth of Amazon's revenue and most of its operating profit. Amazon reports that for the quarter ending June 30, the company spent more than $53 billion on properties and equipment. Amazon previously said that capital project expenditure is expected to reach 200 billion US dollars this year, mainly for artificial intelligence-related projects, so investors are closely monitoring whether the company has signs of excessive investment.