Cloud run hits Amazon shares: Stock drops over 7% as AWS trails...

Dununu.com Dununu

Sponsor

Cloud run hits Amazon shares: Stock drops over 7% as AWS trails Microsoft and Google in AI-driven cloud growth; $170bn market cap erased

RSS Feed Business

Posted

77

Amazon shares experienced a significant drop following the release of its Q2 earnings report, primarily due to the slower-than-expected growth of Amazon Web Services (AWS). While AWS revenue increased, it lagged behind the growth rates of competitors Microsoft Azure and Google Cloud, raising concerns about Amazon's position in the competitive AI-driven cloud market.

Read Full Article

Please log in to like, share and comment!

Jhala Nath Khanal to Madhav Nepal: Party isn’t a one-man show

KATHMANDU: Senior leader of CPN (Unified Socialist), Jhala Nath Khanal, has strongly objected to...

By 0 2

GMU backs president with 1.5% raise despite 4 federal investigations and political turmoil in US education

By 0 7

'He needed help': Friend of Anaconda shooting suspect Michael Brown says he was struggling with PTSD, thought he was still in Army

Michael Paul Brown is wanted for a mass shooting at The Owl Bar in Anaconda in which four people...

By 0 22

Federal Bank net profit dips 14.6% to Rs 861 crore on MFI provisions

By 0 22

IPO update: JSW Cement trims IPO size to Rs 3,600 crore; public issue to open on August 7

JSW Cement is set to launch its IPO on August 7, aiming to raise Rs 3,600 crore through a fresh...

By 0 22