Amazon Soothes AI Jitters as Wall Street Ends Higher

Wall Street ended the week on a positive note, thanks to Amazon's impressive quarterly report that alleviated investor concerns about overspending on AI data centers. The tech giant surged over 15% after posting its biggest quarterly revenue growth in over four years.

The strong results from Amazon and Microsoft, which reported similar growth on Wednesday, helped boost investor confidence in AI-related stocks. This is a welcome relief for the market, as worries about potential overspending on AI infrastructure had been rattling global markets this month.

Analysts say that Amazon's spending on AI was seen as 'moonshot' or irresponsible by some investors, but CEO Andy Jassy has put these fears to bed with the company's latest results. Despite the positive news, Apple dropped 7.4% after warning of supply constraints and potential weakness in consumer demand.