- Amazon stock surged 15% after the company reported second-quarter earnings that beat Wall Street expectations.
- Amazon Web Services (AWS) generated $42.2 billion in second-quarter revenue, representing a 36.7% year-over-year growth rate.
- Amazon revealed that both its AI and custom chip businesses have surpassed a $25 billion annualized revenue run rate, while its backlog reached $496 billion.
Quotes
“We added over $4.6 billion in revenue quarter over quarter — about 80% more than our largest increase ever. Our backlog stands at $496 billion, growing tr”