Amazon Web Services (AWS) sees 20% increase in revenue year over year, topping Wall Street estimates

Investors are closely watching growth in Amazon's cloud computing unit, which faces increasing pressure from rivals and artificial intelligence deals.

Amazon Web Services is the world's top provider of cloud infrastructure, but it's facing intensifying pressure from competitors Google and Microsoft.

Amazon Web Services (AWS) sees 20% increase in revenue year over year, topping Wall Street estimates

Amazon reported third-quarter earnings that exceeded expectations, which prompted a 13% rise in its share value during after-hours trading on Thursday.

Amazon blew past analyst estimates in its third-quarter earnings report and raised its capital expenditures forecast for the year to $125 billion.