Amazon Stock Soars to New Record High on Strong AWS Earnings

Amazon's stock surged to a new record high after its second-quarter earnings report beat Wall Street estimates, with shares rising about 17% in just one week.

The company's cloud division, Amazon Web Services (AWS), was the standout performer, contributing significantly to the impressive show. AWS reported a 37% year-over-year increase in revenue, exceeding analyst expectations and reinforcing investor confidence in the company's increasing AI dominance.

Amazon's growth story is being driven by rapid AI adoption, with the cloud division's backlog growing 36% from the previous quarter to $496 billion. The company is investing heavily in AI infrastructure and custom chips to meet increasing demands in the cloud space.