Amazon shares soar as AI boom fuels stellar growth in AWS cloud unit
Update: 2025-10-31
Description
Amazon's cloud business, AWS, surged by 20% in Q3, outpacing Microsoft Azure and Google Cloud, boosting Amazon's shares by nearly 12% in premarket trading. Despite concerns about losing market share, AWS is now growing at its fastest rate since 2022, driven by AI demand and core cloud infrastructure. Amazon's retail sales and advertising revenue also saw significant growth, offsetting slowdowns in its core e-commerce business.
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