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Shares rose on a strong quarter. The upside, however, was tempered by a lower-than-expected outlook.

Generative AI is now contributing revenue to Amazon's cloud business at annualized rate equivalent to multiple billions of dollars, re-accelerating growth at…

Cloud Computing: "Looking across AWS, Microsoft Azure and Google Cloud, it is clear that two things are happening simultaneously - AI is contributing to growth, but also the rest of cloud spending is accelerating," said D.A. Davidson & Co analyst Gil Luria.

Recent pullbacks have put some artificial intelligence stocks on sale.

TECH NEWS : The wave of mass layoffs swept across some of the world's largest companies in April 2024, with tech titans like Tesla, Google, and Apple forced to cut thousands of jobs. So far, more than 70,000 people have lost their jobs in the tech sector this year.

Amazon ( AMZN ) reported first-quarter earnings that topped both the top and bottom of Wall Street estimates, sending the retailer's shares up 5% in

AWS posted its best revenue growth since 2022, as tens of thousands of companies try Amazon's generative AI tools.

NEW YORK -- Amazon on Tuesday reported strong results for the first quarter, driven by growth in its cloud-computing unit and new advertising dollars from its Prime Video streaming service.

A survey of North American equities heading in both directions

Amazon executives spoke in Tuesday's earnings call about the impact generative AI could have on Amazon's business going forward, as well as the rollout of ads on Prime Video.