Amazon Web Services cloud revenue surged significantly, surpassing market forecasts. This strong performance was fueled by increased enterprise artificial intelligence spending. Rivals Microsoft and Alphabet's Google also reported solid cloud revenue growth. Amazon's e-commerce business saw increased activity during its Prime Day event. The company's investments in AI infrastructure are now showing clear returns.

July 29 : Microsoft topped Wall Street estimates for quarterly cloud revenue growth on Wednesday, a sign its massive spending on AI infrastructure was paying off as capacity…

Microsoft posted strong results for its quarterly earnings on Wednesday, beating expectations and showing strong growth in its cloud computing platform and...