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Amazon Shares Tumble Amid Cloud and AI Investment Debate

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AMZN
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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.

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