Amazon Shares Drop Amid Cloud Growth Concerns and AI Strategy Uncertainty
TL;DR Summary
Amazon's stock dropped 8% after its AWS cloud unit's Q3 guidance fell short of expectations, raising concerns about its AI competitiveness, despite strong Q2 earnings and revenue growth. Rivals Microsoft and Google reported robust cloud performances, highlighting AWS's lag in AI advancements. Analysts remain cautiously optimistic about Amazon's future, but the market reacted negatively to the AWS outlook.
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- Amazon tumbles after cloud computing growth disappoints investors Reuters
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