AWS sales expanded 37% year over year, which trounced analysts' expectations for 31% growth.

Amazon reported $200.6 billion in second-quarter revenue, up 20%, with AWS growing 37%, its fastest pace since the end of 2021.

Amazon Web Services momentum is accelerating, with strong demand for artificial intelligence and backlog growth supporting expectations for growth above 40% next year, UBS said in a note Friday. The analysts said the company disclosed $25 billion in AI annual recurring revenue and $496 billion in backlog,

Amazon Web Services showed quarter-over-quarter growth that was 80% more than its prior largest increase, Amazon CEO Andy Jassy told investors on Thursday. The cloud business recorded $42.2 billion in revenue,

Amazon stock rallied Friday after a strong second-quarter earnings report reignited enthusiasm for the tech giant's shares. Cloud growth for AmazonAMZN reached a more than four-year high, with the company touted progress in offering custom AI chips and services to enterprises.

Amazon exceeded Wall Street's expectations in the second quarter, according to results released on Thursday. In the key AWS cloud division, which investors monitor particularly closely, revenue rose by 37% year-on-year to $42.