Amazon's shares rebounded 6% in after-hours trading after CEO Andy Jassy announced that AWS bookings are accelerating. The company is expecting a growth of 15% plus in December, compared to the Street's estimate of 14%. Although AWS is still losing market share to Azure and Google Cloud, the gap is expected to close this quarter. Wall Street is looking for AI to drive future cloud growth. Amazon's cloud recovery has led to a rally in its stock, with the company on track to add almost $90 billion to its market capitalization. Microsoft's AI boost helped its cloud business outpace rivals Amazon and Google in the latest quarter.
Microsoft's AI boost helped cloud business outpace rivals Amazon and Google in latest quarter https://t.co/ylNAJ88dEY
Microsoft's AI boost helped cloud business outpace rivals Amazon and Google in latest quarter https://t.co/htyrcEl27q
.@amazon rallies on #cloud optimism as it chases @Microsoft for #AI business The ecommerce giant was on track to add almost $90 billion to its market capitalisation. Smaller cloud rival Microsoft rose 1.5%, while Alphabet was down about 1.3%. https://t.co/jMxB3KoKWc
Amazon rallies on cloud recovery as it chases Microsoft for AI business https://t.co/rMA3nNUsiF https://t.co/nrbES4jZwy
Amazon rallies after CEO Andy Jassy says the company's cloud-computing business won large contracts in the third quarter. Wall Street is looking for AI to drive future cloud growth. https://t.co/L9ScDIaqe6
Shares of $AMZN rebounded 6% in after hours when CEO Jassy said AWS bookings are accelerating. Reading between the lines growth in December should 15% plus, compared to the Street's 14%. While AWS is still losing share to Azure and Google Cloud, the gap should close this quarter. https://t.co/Wmtl2GrcVG