Amazon Shares Tumble Amid Cloud and AI Investment Debate
Amazon shares traded at $260.53 on Tuesday afternoon, down 0.59% from the previous close of $262.07.
The decline came as investors weighed Amazon's cloud and AI investments, which are central to its expansion beyond e-commerce.
Pershing Square still holds over 8.56 million Amazon shares, worth more than $2 billion, according to its latest 13F filing.
Amazon's retail operations posted a 15% unit volume growth in the first quarter, its highest since 2021, but concerns about AI-related spending and cash flow pressure remain.