Amazon earnings updates: AWS cloud strength, AI capex in the spotlight

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Amazon is next up among the mega-cap tech titans to report earnings, and investors are looking for something to get excited about, as the stock has lagged its peers over the last 12 months.

In focus for Wall Street will be growth in the AWS cloud unit, which analysts believe will be a bright spot in the report. Similar to other AI-focused firms, they'll also be listening closely to any updates on AI-related capex and costs following the recent spate of layoffs across the firm.