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Stock impact report

Cloud revenue accelerates 21% to $76 billion for the latest earnings cycle [Yahoo! Finance]

Amazon.com, Inc. (AMZN) 
Last amazon.com, inc. earnings: 4/30 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
The market as a whole was up a healthy $13.5 billion to $76 billion, up 21% of the first quarter in 2024, per Synergy Research. That's healthy growth by any measure. If you're wondering what's driving the growth, you probably guessed that it's related to generative AI and the copious amount of data required to build the underlying models. Whether it's Microsoft's close links to OpenAI, Google Cloud making a slew of AI announcements at its recent customer conference, or Amazon's infrastructure managing the data side of the equation, AI is driving lots of business for these vendors. And these companies are reaping the financial windfall for the newfound interest in this technology. Altimeter partner Jamin Ball reports that those rewards started coming in last quarter , and the ball kept on rolling into this one. Amazon cloud growth had dropped as low as 12% in Q2 and Q3 last year, climbing a bit to 13% in Q4. But the company really kicked it up a notch this quarter with revenue of Show less Read more
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