Despite Revenue Miss, Amazon’s Cloud Business Is Booming Thanks to A.I.

Amazon’s cloud unit, Amazon Web Services (AWS), continues to see growth for its third consecutive quarter as customers go all in on A.I. During the April-June quarter, AWS brought in $26.3 billion in revenue, up 19 percent from a year ago, and projects it will generate $105 billion in revenue within a year. AWS’s operating profit jumped 73 percent to $9.3 billion, making up the bulk of Amazon’s earnings following its North America retail sales. During the quarter, Amazon generated $148 billion in total revenue...