Amazon shares surge 11% on back of earnings
🚀Shares in Amazon are up about 11% now the market is open in the US, after its third quarter earnings beat expectations last night.
The tech giant reported a 20% surge in sales at its cloud computing division, Amazon Web Services, to $33bn thanks to demand for computing power for artificial intelligence.
Chief executive Andy Jassy said AWS is now growing at a pace not seen since 2022. He said:
We continue to see strong demand in AI and core infrastructure, and we’ve been focused on accelerating capacity.”