Amazon’s cloud business has reported its strongest quarterly growth in nearly three years amid booming demand for computing power linked to artificial intelligence.
The company’s shares jumped by about 13 per cent in after-hours trading on Thursday after Amazon Web Services posted a 20 per cent surge in sales to $33bn.
Growth at AWS, which rents server space to businesses to run their online services, beat analyst estimates for sales of $32.4bn and reassured investors who had been concerned the world’s largest cloud provider was losing ground to rivals such as Microsoft and Oracle.
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