Amazon Drives AI Data-Center Growth as Evercore Lifts Price Target to $355

Amazon (AMZN) is driving growth in artificial intelligence (AI) data-center capital expenditures, according to industry analysts. This surge is expected to propel the sector from around $125 billion in 2021 to a staggering $700 billion by 2026.

A recent survey cited by Evercore suggests that Amazon's investments are paying off. The financial services firm has increased its price target for AMZN stock to $355, citing the company's strong performance in online reach and same-day delivery use.

Notably, Prime members who opt for same-day delivery spend 3.1 times more than those who do not, while nearly half of customers add perishable items to their orders. This data underscores Amazon's dominance in e-commerce and its ability to drive customer loyalty through convenient services.

In addition to its financial prowess, AMZN has also made significant strides in sustainability. The company recently signed a 600 MW power purchase agreement (PPA) with the Gennaker offshore wind farm in Germany, securing carbon-free energy that will cover over one million homes once operational.