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Amazon Stock Hits Record High on Strong AWS Growth

Guavy AI Editorial Team
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AMZN
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Amazon's stock has reached an all-time high of over $287 per share, representing a 19% increase in value this year.

The tech giant's cloud platform, Amazon Web Services (AWS), has seen its fastest growth rate in 18 quarters, with a 37% increase in the most recent quarter.

AWS accounted for 61% of Amazon's $27.5 billion in operating income last quarter, with CEO Andy Jassy stating that the AI and chips businesses have 'eclipsed run rates of more than $25 billion.'

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