Amazon Stock Surges on AI and Cloud Momentum

Amazon's stock price surged by 4% on Friday, reaching as high as $267.56 and closing at $266.43.

This increase comes amidst a string of positive news for the company, including a strategic partnership with Nvidia to supply AI computing capacity for AWS data centers through 2028.

The agreement signals strong anticipated demand for AI computing capacity and improves AWS revenue visibility, according to Evercore ISI, which raised its Amazon price target to $355 from $315 citing improving retail economics and continued momentum in AWS, AI, and cloud services.

Additionally, Amazon announced power-purchase agreements covering 600 megawatts of carbon-free electricity, including 200 megawatts from four Swedish wind farms, supporting data-center expansion and reducing long-term power-supply and sustainability risks.