Investors are focusing on cloud growth at Amazon and Microsoft amid rising AI demand. Microsoft demonstrated strong Azure growth and resilient software performance, while Amazon Web Services (AWS) reported its highest revenue growth in five years, exceeding market expectations for the third quarter. However, Amazon's shares faced pressure following an earnings miss and a significant increase in capital expenditures related to AI infrastructure.
Amazon CEO Andy Jassy projected AWS growth to accelerate beyond 40% in 2027 and 2028 following third-quarter revenues of $46 billion.
Read the full story