Amazon (AMZN) stock rose over 5% as analysts highlighted a massive $496B AWS backlog and strong cloud profitability driving long-term AI infrastructure growth.

All three major US benchmarks were poised to rise on the final day of the month, with Amazon helping to bolster the AI trade.

Amazon stock eyes its best day in 11 years after AWS revenue surged 37% to $42.2 billion, driven by enterprise AI spending and expanded cloud