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☆ Amazon invests in nuclear energy, hot on the heels of Google and Microsoft
▼ + stars: | 2024-10-16 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The first sites in Washington and Virginia would provide carbon-free energy to meet growing demand. Amazon's announcement follows recent investments in nuclear energy from Microsoft and Google amid the AI boom. Advertisement"We need smart solutions that can help us meet growing energy demands while also addressing climate change," Amazon's vice president of global data centers, Kevin Miller, said in a statement. The first sites in Washington and Virginia would provide carbon-free energy to meet growing demand through partnerships with Energy Northwest and Dominion Energy, respectively. Constellation Energy has struck a deal to provide Microsoft with nuclear power by reopening the Three Mile Island plant.

Persons: —, Ken Griffin, Kevin Miller, – Organizations: Microsoft, Google, Service, Tech, Amazon, AWS, Citadel, Ares Management Corporation, NGP, University of Michigan, Energy Northwest, Dominion Energy, E, Constellation Energy, Susquehanna, Electric, IEEE Spectrum, Dow Locations: Washington, Virginia, Pennsylvania, New Jersey , Ohio, Texas

☆ To pop or not to pop: the smart way to invest in AI without worrying about the bubble
▼ + stars: | 2024-09-13 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

It's also common to draw parallels between the dot-com bubble and today's hype, leading investors to wonder if there's an AI bubble that's about to pop, too. Goldman Sachs' big AI headline of the month is "To buy, or not to buy, that is the question." The note from September 5, led by Peter Oppenheimer, suggests the answer is "to buy" but also to diversify. And the third is the application providers, which are the companies creating services for end users to harness AI. It comes from machine learning or big data workloads that various companies and governments use, Belton noted.

Persons: —, Goldman Sachs, Peter Oppenheimer, John Belton, doesn't, Brian Colello, Nancy Tengler, that's, it's, Tengler, Wall, Larry Ellison, Colello, Belton Organizations: Service, Business, Gabelli Funds, Morningstar Equity Research, Investments, Nvidia, Companies, Microsoft, Intel, Oracle, IBM, Broadcom, AMD, Cadence Design Systems, Google, AWS, Eaton Corporation Locations: GenAI, Belton

☆ Live updates: Amazon to report quarterly earnings today after market close
▼ + stars: | 2024-08-01 | by ( Joe Ciolli | Matthew Fox | ) www.businessinsider.com time to read: +1 min

Amazon reports second-quarter earnings after the closing bell on Thursday. Investors expect solid growth in both Amazon's AWS cloud unit and its massive retail operation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmazon will report second-quarter earnings on Thursday after the closing bell. Amazon's stock was up 23% year-to-date through Wednesday's close, outpacing the the S&P 500 's 16% gain.

Persons: — Organizations: Service

☆ 'Gaining share': Here's what Wall Street expects from Amazon's 2nd-quarter earnings
▼ + stars: | 2024-07-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +7 min

Wall Street expects the retail giant to report adjusted earnings per share of $1.47 in the quarter and revenue of $148.78 billion, according to data from Bloomberg. Here's what Wall Street expects from Amazon's upcoming second-quarter earnings report. While the US consumer is showing signs of softening, the bank expects Amazon's retail unit to be a beneficiary from the current economic environment. "AWS sales, in constant currency, may meet consensus' high-teens view," Bloomberg Intelligence said. AdvertisementThe analysts also said Amazon's advertising revenue could continue to grow at a "20%-plus pace as Amazon takes market share."

Persons: —, Wall, Goldman Sachs, Amazon's, Rufus Organizations: Service, Bloomberg, Business, Bank of America, of America, 1Q, " Bank of America, Citi, Amazon, 2Q, JPMorgan, Bloomberg Intelligence Locations: America, North America

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Amazon, Spotify, AMD, Uber, McDonald's, Broadcom & more
▼ + stars: | 2024-07-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Morgan Stanley reiterates Eli Lilly as overweight Morgan Stanley raised its price target on the stock to $1,083 per share from $1,023. "We are initiating RBBN with a Buy rating and $5 price target because the investment thesis has significantly improved." Rosenblatt reiterates Broadcom as buy Rosenblatt raised its price target on the stock to a Street high $2,400. Morgan Stanley downgrades Microchip to equal weight from overweight Morgan Stanley said the semis company has a "lofty" valuation. Morgan Stanley upgrades Telefonica Brasil to overweight from equal weight Morgan Stanley said it's bullish on shares of the LatAm telecom company.

Persons: Morgan Stanley, Eli Lilly, Rosenblatt, Goldman Sachs, Goldman, Mizuho, Truist, Wells, Guggenheim, it's, Jefferies downgrades Darden, Jefferies, Roblox, VIV, OW, Uber, McDonald's Organizations: Broadcom, AVGO, " Bank of America, Apple, Bank of America, JPMorgan, Nvidia, Digital Realty, Mizuho, Services, AMD, Silo AI, KBW, Guggenheim, Costco, Jefferies, Spotify, Telefonica Brasil, Energy, Uber, CART Locations: NYC, Europe, underperform, Olive, China

☆ AI tools and startups are helping workers bluff their way through job interviews. Just don't call it cheating.
▼ + stars: | 2024-07-09 | by ( Rob Price | ) www.businessinsider.com time to read: +12 min

Read previewMichael Guan wants you to use AI to bluff your way through that job interview. He's the cofounder and CEO of Final Round AI, a startup building artificial intelligence-powered tools for job seekers. There's a debate in Silicon Valley about the appropriateness of candidates using AI in job interviews. An AI-powered proxy interview demoArjun, a professional interview proxy, hopped on a call to explain how it worked and then gave a demo. Guan argued that using AI during a job interview isn't underhanded; it shows the worker's ingenuity.

Persons: —, Michael Guan, Otter.ai, There's, Guan shrugged, Otter, it's, Arjun, AiApply, Aidan Cramer, Cramer, Buddy, that's, résumé, Guan, Jay Ma, Copilot, Ma Organizations: Service, Business, AWS, Google, Microsoft, Hub, Intel, Nvidia, Wayback, Bureau of Labor Statistics, YouTube Locations: Silicon Valley, Facebook, WhatsApp, London, San Francisco, Francisco, China, Seattle, TikTok

☆ Amazon's AWS to launch new infrastructure region in Taiwan amid rapid Asia-Pacific expansion
▼ + stars: | 2024-06-12 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Rio de Janeiro , Brazil - 4 May 2023; Amazon Web Services branding, during day three of Web Summit Rio 2023 at Riocentro in Rio de Janeiro, Brazil. The new AWS region in Taiwan will enable firms to capitalize on the cloud and "build with AWS technologies like compute, storage, databases, analytics, machine learning and artificial intelligence," said Prasad Kalyanaraman, vice president of infrastructure services at AWS, in a statement. An AWS region is a physical location where data centers are clustered. An availability zone is an isolated and geographically separate location with one or more data centers with independent power, cooling, and physical security. AWS had opened a region in the Indonesia capital of Jakarta in December 2021.

Persons: Eóin Noonan, Prasad Kalyanaraman Organizations: Amazon Web Services, Web Summit, Summit, Getty, Web Services, AWS Locations: Rio de Janeiro, Brazil, Riocentro, U.S, Taiwan, Asia, Pacific, Singapore, Malaysia, Thailand, Indonesia, Jakarta

☆ Amazon's AWS to double down on Singapore with additional $9 billion cloud investment
▼ + stars: | 2024-05-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

BARCELONA, SPAIN - JANUARY 31: A logo sits illuminated outside the Amazon Web Services (AWS) booth at ISE 2023 and IOT Solution World Congress at Fira Barcelona on January 31, 2023 in Barcelona, Spain. (Photo by Cesc Maymo/Getty Images)SINGAPORE — Amazon Web Services on Tuesday said it will invest an additional 12 billion Singapore dollars (about $8.87 billion) over the next five years to grow its cloud infrastructure and services in Singapore. "The investment will go into the construction and build up of the DC capabilities, all associating with the Asia-Pacific Singapore region," Priscilla Chong, country manager of AWS Singapore, told CNBC's "Street Signs Asia" on Tuesday. The U.S. tech giant's cloud computing arm launched its first Asia-Pacific region in Singapore in 2010 – its first foray outside of the U.S. and Europe. Since then, AWS said it has pumped over SG$11 billion into Singapore's cloud infrastructure and ecosystem.

Persons: Cesc Maymo, Priscilla Chong, CNBC's, Chong Organizations: Amazon Web Services, Fira Barcelona, Integrated Systems, Services, AWS Singapore, ASEAN Locations: BARCELONA, SPAIN, Barcelona, Spain, Integrated Systems Europe, SINGAPORE, Singapore, Asia, Pacific Singapore, U.S, Pacific, Europe

☆ How Nvidia's AI strengths are enhancing the businesses of Alphabet, Microsoft, Meta, Amazon
▼ + stars: | 2024-02-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

There are "major companies and verticals that have not even considered the H100" yet, he added, referring to Nvidia's AI must-have GPU. A few weeks ago, we combed through the latest earnings reports from Google-parent Alphabet, Microsoft, Meta Platforms and Amazon to see how their AI spending plans are benefitting Nvidia. After Wednesday evening's killer quarterly release, Nvidia talked about how it is helping the businesses of fellow Club names Google, Microsoft, Meta and Amazon. Alphabet continues to heavily invest in AI applications to improve the performance of its services including Google DeepMind, Google Services, Gemini, and Google Cloud. "Nvidia DGX Cloud will expand its list of partners to include Amazon's AWS, joining Microsoft Azure, Google Cloud and Oracle Cloud.

Persons: Jim Cramer, Jim, Jensen Huang, Colette Kress, Kress, Mark Zuckerberg, we've, Gemma, Satya Nadella, Copilot, Jim Cramer's, Omar Marques Organizations: Nvidia, Google, Microsoft, Meta, Companies, Nvidia H100s, Google Services, Gemini, Management, Amazon's AWS, Oracle, NVIDIA, Amazon Web Services, CNBC, Getty

☆ Live updates: Amazon to report 4th-quarter earnings
▼ + stars: | 2024-02-01 | by ( Business Insider | ) www.businessinsider.com time to read: +1 min

Amazon reports fourth-quarter earnings on Thursday. Investors will be watching growth in the AWS cloud unit and profitability levels in the retail division. The company's stock is up 2.3% in 2023, slightly outpacing the market. AdvertisementAmazon will report fourth-quarter earnings on Thursday after the closing bell. Amazon's stock was up 2.3% year-to-date through Wednesday's close, slightly outpacing the S&P 500 's 1.8% gain.

Persons: — Organizations: Service, Wall Street

☆ Apple, Zuck, Elon, and the lesson of Microsoft Windows
▼ + stars: | 2024-01-24 | by ( Alistair Barr | ) www.businessinsider.com time to read: +9 min

However, this person has been investing for more than 2 decades and sold a startup to a big tech company in the first dot-com boom. "The lesson of Microsoft Windows"Then this hedge funder schooled me on the "lesson of Microsoft Windows." He also pointed out that if you don't own a big platform, your life kinda sucks. AdvertisementThe biggest betsThis is why big tech companies are investing 100s of billions of dollars to find the next big platforms. Big Tech is all about winning our attention and being the first "funnel" that sends us out into the world.

Persons: Mark Zuckerberg, —, Apple, Tesla, it's, Mark Gurman, I've, Matthew Ball, Zuckerberg, Ball, OpenAI, Nora Naughton, Elon Musk Organizations: Apple, Service, Apple's, Microsoft, Microsoft Windows, Android, Amazon, Google, Big Tech, Tesla, Software, GM, Ford, Meta Locations: American

☆ Amazon's AWS to invest $15 billion to expand cloud computing in Japan
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: 1 min

An US giant Amazon employee passes by its logo on the opening day of the new distribution center in Augny, eastern France, on September 23, 2021. (Photo by SEBASTIEN BOZON / AFP) (Photo by SEBASTIEN BOZON/AFP via Getty Images)Amazon Web Services, or AWS, said on Friday it plans to invest 2.26 trillion yen ($15.24 billion) in Japan by 2027 to expand cloud computing infrastructure that serves as a backbone for artificial technology, or AI, services. The Amazon.com unit is spending to expand facilities in the metropolises of Tokyo and Osaka to meet growing customer demand, it said in a statement.

Persons: SEBASTIEN BOZON Organizations: Amazon, Getty, Web Services Locations: Augny, France, AFP, Japan, Tokyo, Osaka

☆ Nvidia's stock tripled last year on AI excitement. What to expect as the next stage unfolds
▼ + stars: | 2024-01-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

The company's stunning progress garnered the love of Wall Street, with analysts upping their price targets on the stock to account for future growth and naming it among their top AI picks. Nvidia's 'iPhone moment' Few could have predicted the frenzy ChatGPT would create when it debuted in late 2022, but no company could have been better prepared for the excitement than Nvidia. What to expect in 2024 Many on Wall Street don't foresee Nvidia hype dying down in the new year. In fact, many investors expect shares to keep rising as long as the company can smash expectations and guide higher. That's a feat many on Wall Street expect the company to accomplish, with the consensus price target implying another 35% upside for shares, according to FactSet.

Persons: Paul Meeks, Karl Freund, Freund, They've, Kim Forrest, Meeks, there'll, Ken Mahoney, Forrest, they've Organizations: Nvidia, Devices, Research, Bokeh Capital Partners, Intel Locations: Nvidia's

☆ CNBC Daily Open: AI schadenfreude
▼ + stars: | 2023-11-29 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. Treasury yields dipped on Tuesday, with the yield on the 10-year note last down nearly 6 basis points at 4.33%. Amazon's AI pushAmazon's AWS cloud unit has announced new chips for customers to build and run artificial intelligence applications on, as well as plans to offer access to Nvidia's latest chips. However, the favorable backdrop for Wall Street may have fueled unsustainable gains for a slate of stocks.

Persons: Munger, Charlie Munger, Warren Buffett's, Munger's, Berkshire Hathaway, Buffett, Bob Iger, Iger Organizations: CNBC, Federal Reserve, Treasury, Dow Jones, Nasdaq, Berkshire Hathaway, Berkshire, Disney, ESPN, Microsoft, Federal, CNBC Pro Locations: Frankfurt, Germany, U.S, California

☆ Amazon's AWS appeals to corporate customers with new chatbot, AI safety measures
▼ + stars: | 2023-11-28 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +3 min

The new software arrives roughly a year after OpenAI’s ChatGPT burst onto the scene, setting off a frenzy of investment in generative AI startups. AWS CEO Adam Selipsky, at Amazon’s annual cloud computing conference in Las Vegas, announced a new safeguard against objectionable content on generative AI applications, called Guardrails for Bedrock. Because generative AI is trained on publicly available content, offensive words or other objectionable content can slip through into results from users’ prompts. Selipsky said the new service was important for customers to put limits they see fit on the generative AI they use. Also at the conference, Amazon announced it would indemnify its customers against lawsuits based on the misuse of copyrighted materials.

Persons: Vincent West, Slack, OpenAI’s, Adam Selipsky, Selipsky, ”, Greg Bensinger, Marguerita Choy Organizations: REUTERS, Facebook, Amazon, Getty, Thomson Locations: Trapagaran, Spain, Las Vegas, Seattle

☆ Amazon announces new AI chip as it deepens Nvidia relationship
▼ + stars: | 2023-11-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

It led to a shortage of Nvidia's chips as companies raced to incorporate similar generative AI technologies into their products. Amazon's own Trainium2 chips are built for training AI models, including the sort that AI chatbots like OpenAI's ChatGPT and its competitors run on. More than 50,000 AWS customers are already using Graviton chips, Amazon said. Finally, as part of its deepening relationship with Nvidia, AWS said it will operate more than 16,000 Nvidia GH200 Grace Hopper Superchips, which contain Nvidia GPUs and Nvidia's Arm-based general-purpose processors. AWS didn't announce release dates for virtual-machine instances with Nvidia H200 chips, nor instances relying on its Trainium2 silicon.

Persons: Maia, Grace Hopper Superchips, Deepwater's Gene Munster Organizations: Services, Nvidia, Microsoft, Big, Intel, AMD, AWS Locations: Las Vegas, Graviton

☆ A lower-cost bet on a year-end rally in Amazon using options
▼ + stars: | 2023-11-24 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +4 min

I'm going to look at a low cost way to bet on a year-end continuation in the comeback in the shares. That $100 million expenditure is on top of the $1 billion per year Amazon (AMZN) is already paying to broadcast 15 or 16 Thursday Night Football games annually until 2033. Amazon revenue for the 12 months ending September 30, 2023 was not too shabby at $554 billion, a 10 percent increase year-over-year. AMZN mountain 2020-12-31 Amazon since 2020 It is also imperative to remember that Amazon has a vast business with multiple categories from e-commerce to cloud computing. DISCLOSURES: (Long the 1x2 vertical spread and AMZN stock) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Persons: AMZN Organizations: NFL, Miami Dolphins, New York Jets, Football, New York Yankees, Seattle Storm, League, English Premier League, behemoth, Amazon, Amazon's AWS, Microsoft, Google Locations: Italy, Germany, India

☆ Generative AI still mostly experimental, say executives
▼ + stars: | 2023-11-09 | by ( Katie Paul | ) www.reuters.com time to read: +4 min

NEW YORK, Nov 9 (Reuters) - One year after the debut of ChatGPT created a global sensation, leaders of business, government and civil society said at the Reuters NEXT conference in New York that generative AI technology is still mostly in an experimental stage, with limited exceptions. Aguirre cited self-driving cars as an example of a technology struggling to make the transition to full deployment. “I’ve observed many generative AI applications that are in production while other customers are just beginning their journey.”One way generative AI was already being deployed widely, highlighted by speakers across industries, was to write computer code. Gary Marcus, a professor at New York University, said generative AI was error-prone in coding just like in other areas, but that the problem was less of a hindrance in the tech sector because programmers knew how to troubleshoot it. Companies should move slowly and deliberately when integrating the technology into uses where accuracy matters, executives emphasized.

Persons: ChatGPT, What's, Anthony Aguirre, Aguirre, Sherry Marcus, I’ve, Lili Cheng, Copilot, Cheng, Gary Marcus, Marcus, Cisco's Vijoy Pandey, Pandey, Katie Paul, David Gregorio Our Organizations: Reuters NEXT, Life Institute, Microsoft Corporate, Reuters, New York University, Thomson Locations: New York

☆ Nvidia is targeting the ad industry as its next major chip-buying market
▼ + stars: | 2023-09-26 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Jamie Allan, Nvidia director of business development for global agencies and advertising. For Nvidia, the advertising industry unlocks access to a client base that includes virtually every single major corporation across every industry. Taboola is using Nvidia GPUs to speed up its natural language processing, which analyzes articles and serves relevant content to users. More recently, it's been using Nvidia and OpenAI technologies to allow advertisers to create images within its platform. Allan said Nvidia intends to be more involved in the advertising industry discourse and help advise companies about the adoption of AI.

Persons: Nvidia's Jamie Allan —, —, Allan, Jamie Allan, Microsoft's Bing, Stephan Pretorius, There's, Adam Singolda, it's, Media.Monks, Jay Pattisall, Forrester, Nvidia, Jensen Huang Organizations: Nvidia, Big Tech, Google, Meta, EMEA, WPP, DENZA, AWS, Adobe, Media.Monks, Oracle, Cannes Lions, pharma, they're

☆ 3 ways the generative AI boom is upending the advertising agency business
▼ + stars: | 2023-09-19 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Here are some of the newest challenges agency leadership teams are discovering as they race to lead AI in advertising. Productivity gains from AI risk undercutting agency feesMany agency bosses have touted the productivity efficiencies AI presents to their companies — from creating lists of search keywords to making tedious work like cataloging invoices less time-consuming. Agencies haven't figured out what to do with the AI talent they've hiredMuch like heads of digital, heads of mobile, and heads of programmatic before them, agency heads of AI are now having their time in the sun. But once such AI talent is sourced, agencies are presented with another dilemma: Where in the organization should a "head of AI" sit? Most businesses have started with this being part of the chief technology officer or the IT department's responsibilities, said Ruben Schreurs, chief strategy officer at the marketing consultancy Ebiquity.

Persons: Nick Coronges, Coronges, waitlists, Lewis Smithingham, Smithingham, Ryan Kangisser, Forrester, Jay Pattisal, haven't, they've, Ruben Schreurs, Richard Robinson Organizations: Google, Nvidia, OpenAI, Microsoft, Big Tech, Productivity, Forrester, Xeim Engage

☆ Here's what you can do if you're looking to get into this leading cybersecurity stock
▼ + stars: | 2023-08-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. We started a position in Oracle (ORCL), an established leader in business software that's really ramping up its cloud business. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Stocks, Jim Cramer's, Jim Organizations: CNBC, Dow, Nasdaq, Amazon, Oracle, Amazon's, Google, Microsoft, Palo Alto Networks, Palo, Deutsche Bank Locations: China, Palo Alto

For a long time, as those three companies moved first and established large initial market shares in the cloud, Oracle looked like it was being left behind. But the turning point was when Oracle launched its second-generation cloud infrastructure offering, called Oracle Cloud Infrastructure Generation 2, or OCI Gen 2, in the summer of 2020. In the second quarter of fiscal 2023 (the three months ended November 2022), Total Cloud revenue grew 43%, with 40% growth for Cloud Applications and 53% growth for Cloud Infrastructure. In the third quarter of fiscal 2023 (the three months ended February 2023), Total Cloud revenue accelerated back to 45%, with 42% growth for Cloud Applications and 55% growth for Cloud Infrastructure. Total Cloud revenue growth surged to 54% again, with 45% growth for Cloud Applications and 76% growth for Cloud Infrastructure.

Persons: Jim Cramer's, Jim, it's, Larry Ellison, Oracle, Microsoft —, we're, Jim Cramer, Justin Sullivan Organizations: Oracle, ORCL, Nasdaq, Amazon Web Services, Google, Oracle Cloud Infrastructure, AWS, Nvidia, Cloud Infrastructure, Management, Microsoft, Charitable Trust, Club, APPLE, CNBC Locations: China, Redwood Shores , California

☆ Amazon stock jumps 8% after biggest profit beat since 2020. How the pros are playing it
▼ + stars: | 2023-08-04 | by ( Christina Falso | ) www.cnbc.com time to read: +1 min

The pros discussed the e-commerce giant after second-quarter revenue and earnings both topped analysts' estimates. Amazon stock jumped 8.3% Friday. After the closing bell Thursday, Amazon reported earnings of 65 cents per share and revenue of $134.4 billion . Amazon's AWS cloud revenue surged 12% to $22.1 billion and advertising revenue also beat expectations, coming in at $10.7 billion. CEO Andy Jassy claimed Amazon had its "biggest ever" Prime Day sales event with online spending hitting $12.7 billion over the 48-hour period.

Persons: Andy Jassy, Rosenblatt, Jim Cramer Organizations: Amazon Locations: Seattle

☆ Amazon earnings: What investors should be watching
▼ + stars: | 2023-08-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon earnings: What investors should be watchingMark Mahaney, Evercore ISI head of internet research, and Malcolm Ethridge, executive vice president and financial advisor at CIC Wealth, join 'Closing Bell' to discuss expectations for Amazon's earnings results, the AI momentum fueling Amazon's AWS growth, and more.

Persons: Mark Mahaney, Malcolm Ethridge Organizations: CIC Wealth

☆ Amazon cloud revenue rise 12%, topping analysts' estimates
▼ + stars: | 2023-08-03 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Amazon said Thursday that revenue from its cloud unit increased 12% year over year in the second quarter, a speedier pace than analysts had predicted. Revenue for the quarter came to $22.1 billion, beating the $21.79 billon consensus among analysts surveyed by StreetAccount. AWS operating income has now declined for three consecutive quarters. Google and Microsoft are also moving quickly to make money as companies look to take advantage of generative AI following the rise of startup OpenAI's ChatGPT chatbot. AWS CEO Adam Selipsky told CNBC in June that the generative AI "race" has just started.

Persons: Gartner, Adam Selipsky Organizations: Amazon, Revenue, StreetAccount, StreetAccount . Revenue, Amazon Web Services, AWS, Microsoft, Center, Google, OpenAI Service, CNBC Locations: StreetAccount .

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