TechCrunch·3 min read·medium
Investors love AI, as long as you’re a cloud host
R
Russell Brandom
✦AI Summary
Amazon reported strong second-quarter earnings driven by significant growth in its cloud division, AWS. Despite concerns over high capital expenditure on data centers and AI infrastructure, investors responded positively to the company's long-term growth strategy.
Amazon reported better-than-expected second-quarter earnings on Thursday, and investors loved what they saw. Net sales rose 20%, and cloud revenue stood out as a particular bright spot. This combination of positive results was enough to send Amazon’s stock up nearly 10% in after-hours trading.
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