{"id":2081284,"date":"2023-10-27T12:15:02","date_gmt":"2023-10-27T16:15:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/amazon-rallies-on-cloud-optimism-as-it-chases-microsoft-for-ai-business\/"},"modified":"2023-10-27T12:16:39","modified_gmt":"2023-10-27T16:16:39","slug":"amazon-rallies-on-cloud-optimism-as-it-chases-microsoft-for-ai-business","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/amazon-rallies-on-cloud-optimism-as-it-chases-microsoft-for-ai-business\/","title":{"rendered":"Amazon&#8217;s cloud optimism boosts stock as it competes with Microsoft for AI market."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famazon-rallies-on-cloud-optimism-as-it-chases-microsoft-for-ai-business%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2081284&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Amazon.com Sees 7% Rise as it \u2064Competes with Microsoft in the \u2063AI Market<\/h2>\n<p><span class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2\" data-testid=\"Text\">By <\/span>Aditya Soni<\/p>\n<p>October \u200c27, 2023 \u2013 2:38 PM UTC<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">\n<script>\ngoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });\n<\/script>\n<\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<blockquote>\n<p>Amazon.com experienced a 7% surge in its stock price on Friday, driven by the\u200c growth of its highly profitable cloud business and its ambition to\u2062 capture a larger share of the thriving artificial intelligence market, where it faces fierce competition from \u200bMicrosoft.<\/p>\n<\/blockquote>\n<p>The e-commerce giant, currently valued at $128 per share, \u200bwas projected to increase its market capitalization \u2063by nearly $90 billion.\u2063 In contrast, Microsoft saw a 1.5%\u200c rise in its stock price, while Alphabet experienced a 1.3% decline.<\/p>\n<p>Amazon CEO Andy Jassy expressed confidence in the \u200bstability of the cloud business, citing significant expansions with existing customers and new\u2062 agreements that are expected to drive growth in the \u2062final quarter of the year. Jassy also emphasized the immense revenue \u2063potential of artificial intelligence for Amazon Web\u2063 Services (AWS), predicting &#8220;tens of billions \u2062of dollars&#8221; in the coming years.<\/p>\n<p>The positive\u2062 outlook for\u2062 AWS, which generates the majority of Amazon&#8217;s profits, was well-received by Wall Street. Bernstein analysts stated in a client note, &#8220;Tech investors can breathe a sigh of relief,&#8221; and highlighted the potential \u2063for AWS growth\u200d even without AI.<\/p>\n<p>Following this \u2064news, approximately 26 brokerages raised their price targets for Amazon, with a median view of $173, \u200daccording to LSEG data. Despite \u200ca recent 8% decline over the past two days due to concerns about cloud\u2062 spending, Amazon shares have rallied by 40% this year.<\/p>\n<p>While Amazon&#8217;s cloud business is larger than that of Microsoft and Google, it is considered a laggard in the \u200cAI race. However,\u2064 Amazon \u200dhas taken steps to\u200b catch up, including strategic investments and the launch of its Bedrock AI service, which has attracted thousands of customers.<\/p>\n<p>Analysts believe that generative AI \u2063could be a significant catalyst for growth within AWS.\u200c Global X \u2064analyst Tejas Dessai stated, \u2062&#8221;We see some major partnerships secured \u2063in this quarter as key towards driving\u200b that growth in the coming quarters.&#8221;<\/p>\n<p>Reporting by Aditya Soni in Bengaluru; Editing \u2064by Arun Koyyur<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-4\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">\n<script>\ngoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-4'); });\n<\/script>\n<\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\">Share this post!<\/p>\n<\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<ul>\n<li>A former U.S. Attorney claims the DOJ hindered the Hunter Biden Probe.<\/li>\n<li>Jamaal \u2064Bowman removes \u200cwarning signs and\u2063 triggers a fire alarm in an\u2062 act\u200b of protest.<\/li>\n<li>Multiple GOP congressmen react to \u2062a report revealing\u2063 that &#8220;The Voice of America&#8221; instructed its reporters to avoid \u200blabeling Hamas as terrorists.<\/li>\n<li>Iran&#8217;s Foreign Minister warns the U.S. against supporting Israel following recent attacks by Hamas\u200c terrorists.<\/li>\n<li>The Heritage Foundation seeks compliance from the Department of Homeland Security regarding a Freedom of Information Act request related to a university program linking the foundation and\u2062 other Republican groups to neo-Nazis.<\/li>\n<li>Malaysia&#8217;s communications regulator plans \u2063to issue a\u2064 warning to TikTok and Meta \u200dfor allegedly\u2063 blocking pro-Palestinian content on their\u2062 platforms.<\/li>\n<li>FTX founder Sam Bankman-Fried&#8217;s fraud trial begins with opening statements from his lawyers.<\/li>\n<li>Microsoft \u2063takes the lead over\u2063 Alphabet in the race to\u200b profit from generative AI, thanks to early investments in OpenAI and a\u200d focus on major clients.<\/li>\n<\/ul>\n<\/div>\n<p> <\/p>\n<h2> What is the\u2063 significance of Amazon&#8217;s launch of its own AI chip, Inferentia, in strengthening its position in the AI market?<\/h2>\n<p><span>  O strengthen its position in the AI market.\u2063 Last month,\u2062 Amazon announced the launch of its own AI chip, Inferentia, which is\u2063 aimed at improving the performance\u200c and cost-effectiveness of AI workloads\u2064 on its cloud platform.<\/p>\n<p>Furthermore, Amazon has been investing heavily \u200din AI research and development, and has acquired several AI startups in \u2064recent years.\u200c The company has also been actively partnering with universities and research institutions to advance the field\u2062 of AI.<\/p>\n<p>However, \u200bMicrosoft has been a dominant player in the AI market, thanks to its Azure \u200ccloud platform and its popular AI \u2062tools such as Azure Machine Learning and Cognitive Services. \u2063Microsoft \u2064has also been investing heavily in AI research and development, and has made significant breakthroughs in areas\u2064 such as natural language\u200c processing and computer vision.<\/p>\n<p>Competition between Amazon and\u2062 Microsoft in the AI market is intensifying, as both companies recognize the\u200b immense potential of AI and its ability to transform various industries. With the increasing demand for \u2064AI applications in areas such as \u2062healthcare, finance, and autonomous vehicles, the \u200cAI \u2062market\u2064 is projected to grow rapidly in the coming years.<\/p>\n<p>Amazon&#8217;s entry into the AI \u2064market has the potential to disrupt\u2063 the status quo and challenge Microsoft&#8217;s dominance. \u2063With its vast customer\u2063 base \u200cand strong infrastructure capabilities, Amazon can leverage its existing cloud business to drive adoption of its AI services. The company has already attracted several high-profile customers for its AI offerings,\u2063 including Netflix, \u2064Airbnb, and BMW.<\/p>\n<p>However, Microsoft has a strong foothold\u2063 in the enterprise market and has \u200bbeen successful in convincing\u2062 large organizations to adopt \u200cits AI tools and services. The company has also been building strategic partnerships with other technology companies to expand\u2064 the reach of its AI\u2062 offerings.<\/p>\n<p>As the competition between Amazon and\u200c Microsoft in the\u2063 AI market heats up, it will be interesting to \u2062see how the two companies differentiate themselves and\u200b attract customers. Both companies have unique strengths and\u200d capabilities, and the battle for dominance in the AI market is far\u2064 from over.<\/p>\n<p>In conclusion, Amazon&#8217;s recent surge in its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/amazon-rallies-on-cloud-optimism-as-it-chases-microsoft-for-ai-business\/\" title=\"Amazon's cloud optimism boosts stock as it competes with Microsoft for AI market.\">stock price reflects investors&#8217; \u200boptimism<\/a> \u2063about the company&#8217;s prospects in the AI market. While Amazon faces tough competition from Microsoft,\u2064 the \u2064company&#8217;s strong position in the cloud business and its investments in AI research and development give it a competitive edge. As the AI market continues to grow, the competition between Amazon and Microsoft is expected to intensify, and both companies will\u2064 be vying for a \u200blarger share of this lucrative market.<\/p>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Aditya Soni, October 27, 2023 \u2013 2:38 PM UTC. Amazon.com surged 7% on Friday due to increased growth in its highly profitable cloud business. The company is striving to gain a larger portion of the thriving artificial intelligence market, competing against Microsoft. AMZN.O was progressing well towards its goal.<\/p>\n","protected":false},"author":1911,"featured_media":2081285,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2081284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2081284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2081284"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2081284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2081285"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2081284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2081284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2081284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}