Amazon Stock Surges 1.9% Amid Qualcomm Deal and AI Investment Gains

Amazon's stock price rose by 1.9% during mid-day trading on Friday, reaching as high as $257.59 and last trading at $256.78.

The company traded approximately 25,916,895 shares, a decline of 46% from the average daily volume of 47,656,273 shares.

This increase follows several positive developments for Amazon, including a major agreement with Qualcomm to purchase up to $60 billion of data-center chips and related products over the long term.

The deal is expected to improve chip supply diversification and support AWS's infrastructure ambitions.