The Cloud Beckons: Amazon's AWS Dominance Spells Opportunity Amazon's stock price surged 15% last Friday, driven by the explosive growth of its cloud computing arm, Amazon Web Services (AWS).
In its latest earnings report, AWS generated $42. 2 billion in revenue for the second quarter, a 36. 7% year over year increase that outpaces the broader tech industry.
This growth is all the more impressive given the custom chip business has surpassed $25 billion in annualized revenue and AI services have also broken through this barrier.