Stocks
Amazon Stock Surges on Court Ruling, NVIDIA GPU Expansion
Amazon's stock price surged 3.3% to $264.71 after a tentative court ruling in San Francisco denied California's bid to halt the company's alleged price-fixing practices.
The move, which reduces immediate regulatory pressures on Amazon, comes as the tech giant announced it will add 2 million NVIDIA GPUs to its cloud infrastructure through an extension of its collaboration with NVIDIA. This substantial hardware investment is expected to strengthen AWS's position in cloud computing and generate expectations for robust future service growth.
On a technical front, AMZN trades above its MA-20 and MA-50 on the hourly chart but remains rangebound within a typical volatility band between $255.26 and $268.41 over the next 2-3 trading days.