AWS Cloud Growth Reaccelerates to 13% on AI Strength; Major Deals with Salesforce, Nvidia, BMW
• AWS cloud computing revenue rebounded, growing 13% year-over-year excluding foreign exchange to $24.2B • Growth partly attributed to rapidly rising benefits from artificial intelligence features rolled out to customers • Amazon CEO highlighted "gen AI" as a major focus area that will drive tens of billions in revenue over next several years • AWS signed major cloud agreements with Salesforce, Nvidia, BMW, and LG • Analysts expect AWS strength, including from AI, to continue fueling growth acceleration in 2024