Overview

• Amazon delivered $167.7 billion in second-quarter revenue, up 13 percent year-on-year, and net profit rose 35 percent to $18.2 billion.
• AWS revenue climbed 17.5 percent to $30.9 billion, trailing Microsoft Azure’s 39 percent and Google Cloud’s 32 percent growth.
• The company is committing $100 billion to AI this year and credited its earnings beat to significant investments in machine-learning infrastructure.
• For the third quarter, Amazon projected $174–179.5 billion in revenue and $15.5–20.5 billion in operating income, a range below analyst forecasts.
• Amazon shut its Shanghai AI research lab as US-China strategic tensions prompted a global recalibration of its R&D presence.