Why Amazon Stock Rallied on Tuesday
Shares of Amazon (NASDAQ: AMZN) climbed higher on Tuesday, adding as much as 2.8%. As of 2:51 p.m. ET, the stock was still up 2.6%.
While the broader market updraft no doubt adding fuel to its rise, the catalyst that sent the e-commerce titan higher was an announcement regarding a collaboration with Nvidia (NASDAQ: NVDA).
Amazon Web Services (AWS) and Nvidia announced a multipart collaboration with the goal of building the "world's most scalable, on-demand artificial intelligence (AI) infrastructure." The system is being designed to train increasingly complex large language models, like those responsible for OpenAI's ChatGPT and GPT-4 and Alphabet's Google Bard.
Source Fool.com
