Posted 2/11/2024, 7:10:00 PM
Amazon Poised for AI Growth, May Fuel Nasdaq Rally After Rough 2022
- The Nasdaq saw strong gains in 2023 after a rough 2022, and historically has had multi-year runs after big sell-offs
- Amazon has made quiet moves into AI via an investment in Anthropic and a partnership to use AWS and its own chips
- Amazon's valuation looks low compared to other big tech companies, presenting an opportunity
- Growth in AWS has been slowing but a focus on AI could reaccelerate it
- Amazon's partnerships position it well to benefit as enterprise IT budgets shift toward AI and the cloud