Amazon's cloud unit reports 19% revenue growth, topping estimates
Publishing timestamp: 2024-08-01 20:11:43
Summary
Amazon Web Services reported a 19% increase in second-quarter revenue, beating analysts' estimates. The company is facing competition from Google, Microsoft, and Oracle in the cloud market. AWS is investing in AI and infrastructure, with a focus on increasing capacity for generative AI models. Andy Jassy, Amazon's CEO, expects AI to be a very large business for the company.
Sentiment: NEUTRAL
Tickers: AMZN, ORCL, MSFT, GOOGL, NVDA,
Keywords: breaking news: technology, enterprise, technology, amazon.com inc, oracle corp, nvidia corp, alphabet inc, business news, business, microsoft corp,
Source: https://www.cnbc.com/2024/08/01/aws-q2-earnings-report.html