Amazon jumps 15% on AWS cloud growth and AI momentum driving blowout quarter

Amazon stock jumped about 15% after a stellar Q2 driven by AWS’s 36.7% YoY revenue growth to $42.2 billion and strong AI-related businesses, with the company also highlighting a $25 billion annualized run rate for its AI and chip divisions. Amazon plans roughly $220 billion in AI infrastructure capex, a sign of high confidence in continued growth as AWS margins improve and backlog hits a record $496 billion, leading analysts to call the report a “home run.”