AWS Drives Amazon Earnings Surge, Bezos' Net Worth Soars

Amazon's stock skyrocketed by 14% on Friday, marking its biggest single-day leap since 2015. This significant surge was fueled by the company's impressive earnings report, which exceeded Wall Street forecasts.

The tech giant reported revenue of $206.6 billion, significantly beating the predicted $197 billion. Additionally, Amazon's cloud division, AWS, saw a remarkable growth of 37%, generating $42.2 billion in sales.

As a result of this earnings smash, Jeff Bezos' net worth soared by $25 billion, catapulting him to the third position on the list of richest individuals globally, with an estimated net worth of $271.5 billion.

The impressive growth of AWS is seen as a testament to Amazon's strategic bets on AI and its confidence in these investments. Analysts note that despite concerns from other tech giants about high costs, Amazon's focus on AI-powered cloud services has made it a leader in this space.