Amazon Posts Biggest Cloud Sales Growth in Year on AI Demand
- Generative AI on pace for ‘multi-billion dollar’ annual sales
- Company gives a revenue forecast that falls short of estimates
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Amazon.com Inc.’s cloud unit posted the strongest sales growth in a year, a sign that the retailer’s most profitable unit is recovering from a slump as businesses resume spending on technology projects, including artificial intelligence services.
Despite the strong cloud performance, the company’s sales forecast for the current quarter fell short of estimates, reflecting concern about the main e-commerce business as consumers continue to spend cautiously.