Stock Market Today, April 9: Amazon Surges After CEO Details AI and AWS Growth Plans [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
Investors will now be focusing on how aggressive AI infrastructure spending translates into future AWS and chip revenue growth. Trading volume reached 64.9 million shares, coming in about 30% above its three-month average of 50.1 million shares. Amazon IPO'd in 1997 and has grown 238,520% since going public. How the markets moved today The S&P 500 (SNPINDEX:^GSPC) added 0.61% to finish Thursday at 6,824, while the Nasdaq Composite (NASDAQINDEX:^IXIC) advanced 0.83% to close at 22,822. Within internet retail, peers Alibaba Group (NYSE:BABA) closed at $127.68 (+1.88%) and MercadoLibre (NASDAQ:MELI) ended at $1,793.2 (+0.98%), posting more modest gains than Amazon's AI-fueled rally. What this means for investors Investors have been shocked at how capital spending plans for building out AI infrastructure have soared this year. Amazon CEO Andy Jassy sought to convince stakeholders that the company will prove those are good investments in his annual shareholder letter. Jassy rev
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