Bezos Unloads $4 Billion Worth of Amazon Stock Amid Cloud Computing Growth

Amazon's executive chairman Jeff Bezos has filed documents to sell up to 15 million shares of Amazon, worth over $4 billion at current prices. This sale is part of a prearranged trading plan, which helps prevent insiders from trading on nonpublic information.

The news comes as Amazon reports tremendous progress in both retail and cloud computing segments. The company's revenue climbed about 16% year over year across its North American and International segment last quarter, driven by strong advertising sales and Prime membership growth.

However, Amazon's rapid increase in capital deployment has weighed heavily on its free cash flow, pushing it into negative territory over the past 12 months. Despite this, the company's outlook remains bright, with AWS revenue accelerating for the fifth straight quarter at a rate of 37% year over year.