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Amazon Shares Hit Record High as AI Momentum Flips Positive

Amazon.com Inc shares surged to a new intraday record of $256.18 on April 17, surpassing the prior $254 close, fueled by OpenAI partnerships including a $50B commitment and AWS AI revenue run rate topping $15B in Q1. The rally caps a 20.5% April gain from February lows, building on disclosures of a $20B AI chip run rate (potentially $50B externally) with triple-digit growth, 24% AWS expansion delivering half of profits, and $200B capex plans backed by customer deals. Satellite ambitions via Project Kuiper and billionaire holdings like Ackman and Tepper further bolster the bullish shift despite spending pressures.

Category

Amazon

Sentiment

Bullish

Event

Market commentary

Reading time

1 min