Tech Giants Report Robust Growth as AI Investments Surge

The tech giants Amazon, Microsoft, and Google Cloud have all reported robust growth in their cloud businesses, driven by increasing investments in AI applications.

Amazon's AWS revenue came in at $42.2 billion, up 37 percent, with CEO Andy Jassy calling it the fastest growth in eighteen quarters, at a 39.4 percent operating margin.

Microsoft had the biggest single-day move of any stock in US history, about $450 billion added, on Azure up 43 percent and a $678 billion contracted backlog.

Google's cloud was up over 80 percent the week before.

The market is differentiating between companies with large enterprise cloud businesses and those without, said the author of AI-Reset to Zero.