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Why Amazon Rallied Today

TheMotleyFool

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Why Amazon Rallied TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, sunset photo at golden hour, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/a130cb51-4ded-41be-b600-b83e2078ad65.png

Shares of e-commerce and cloud computing giant Amazon (NASDAQ: AMZN) rallied on Thursday, up as much as 5.7%, before retreating to a 4.2% gain as of 1:13 p.m. EDT.

Several AI-related stocks were up today, but Amazon seemed to get an extra boost from CEO Andy Jassy's annual letter to shareholders, which was published this morning.

Amazon stock has been under a bit of pressure ever since the management forecast spending some $200 billion this year on capital expenditures, largely on AI data centers.

Source Fool.com

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