Amazon Stock Tumbles as AI Spending Concerns and Regulatory Scrutiny Weigh

Amazon's stock price has taken a hit ahead of its July 30 earnings report, dropping 4.5% to around $233.

The decline is largely due to concerns over Amazon's aggressive investment strategy in AI and cloud infrastructure, which investors are questioning as unsustainable amidst rising competition.

Regulatory scrutiny, including investigations into potential misconduct on the company's online marketplace, has also added uncertainty to investors.