Amazon just flexed its tech muscles with Q2 profits doubling to $13.5 billion—thanks to its cloud division AWS hitting warp speed . While sales reached $148 billion (just shy of expectations), investors got cold feet as shares dipped 4% post-report. But CEO Andy Jassy isn’t sweating: \"AWS’s reacceleration is ,\" he said, pointing to the unit’s 26% revenue jump year-over-year.
The plot twist? AWS boss Adam Selipsky exited unexpectedly in June, passing the baton to sales guru Matt Garman. But with AWS still owning 31% of the cloud market ( Stocklytics data), Amazon’s grip remains strong—even as rivals Microsoft and Google gain ground in the AI-powered cloud race.
Why it matters: Cloud services are now the battlefield for tech supremacy. While Amazon lacks flashy AI products like ChatGPT, its behind-the-scenes infrastructure work keeps it in pole position. But analysts warn: \"Profit growth is slowing,\" says GlobalData’s Neil Saunders—a sign the trillion-dollar tech sprint is getting tougher.
Meanwhile, Amazon’s ads biz ($12.7B revenue) missed targets, and shares in Alphabet/Microsoft also wobbled this week. Meta? Flexing its ad-driven AI strategy. The message? In Big Tech’s high-stakes chess game, cloud & AI are queen .
. While sales reached $148 billion (just shy of expectations), investors got cold feet as shares dipped 4% post-report. But CEO Andy Jassy isn’t sweating: \"AWS’s reacceleration is 
,\" he said, pointing to the unit’s 26% revenue jump year-over-year.
The plot twist? AWS boss Adam Selipsky exited unexpectedly in June, passing the baton to sales guru Matt Garman. But with AWS still owning 31% of the cloud market (
Stocklytics data), Amazon’s grip remains strong—even as rivals Microsoft and Google gain ground in the AI-powered cloud race.
Why it matters: Cloud services are now the battlefield for tech supremacy. While Amazon lacks flashy AI products like ChatGPT, its behind-the-scenes infrastructure work keeps it in pole position. But analysts warn: \"Profit growth is slowing,\" says GlobalData’s Neil Saunders—a sign the trillion-dollar tech sprint is getting tougher.
Meanwhile, Amazon’s ads biz ($12.7B revenue) missed targets, and 
shares in Alphabet/Microsoft also wobbled this week. Meta? Flexing its ad-driven AI strategy. The message? In Big Tech’s high-stakes chess game, cloud & AI are queen 
.
