The reason for that optimism can be summarized in three points: improving profitability in retail, strong momentum in digital advertising, and a potential reacceleration in cloud services revenue driven by demand for artificial intelligence (AI).
As the leading provider of infrastructure-as-a-service and other cloud services, AWS is uniquely positioned in the burgeoning AI-as-a-service market, and the Anthropic partnership meaningfully strengthens AWS at a key time in the AI gold rush.
Amazon reported encouraging financial results in the third quarter. Revenue increased 13% to $143.1 billion on strong growth in advertising services. The cloud computing business Amazon Web Services (AWS) continued to drag on the top line, but deal trends point to a reacceleration in the coming quarters.
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