Amazon soars as cloud revenue surge allays fears over ballooning AI bets - BNN Bloomberg
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Article Excerpt
Amazon shares surged nearly 14 per cent on Friday after the tech giant’s solid cloud sales growth reinforced investor confidence in its massive AI bets and quashed any concerns about the company trailing its Big Tech rivals in the AI race.
The e-commerce and cloud titan posted its strongest cloud growth in over four years, indicating a fresh wave of demand that justifies its 10 per cent increase in planned capital spending for 2026 to $220 billion.
Amazon’s results come as a resounding sign to Wall Street that some of Big Tech’s AI investments are already generating measurable returns.
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Jul 31, 2026