Amazon shares soar after cloud unit posts strong growth amid AI boom

Shares of Amazon rose nearly 12 % in early trading after the company reported a 20 % year-on-year increase in revenue from its cloud unit AWS, and issued a bullish sales outlook. The strong showing eased investor concerns that Amazon was lagging in the AI race versus peers such as Microsoft and Alphabet’s Google Cloud, which reported higher growth rates recently. Analysts said the performance underscores Amazon’s renewed momentum in cloud and enterprise AI infrastructure.