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Amazon forecasts second-quarter net sales to be between $194 billion and $199 billion, exceeding the street estimate of $189.15 billion.
Amazon projects its second-quarter operating income to be between $20 billion and $24 billion, compared to the analyst estimate of $22.86 billion.
Amazon Web Services (AWS) net sales grew 28% year-over-year in the first quarter, beating the estimate of 25.7% growth.
Microsoft's Azure and other cloud revenue grew 39% year-over-year in the third quarter, exceeding the estimate of 38.2%.
Meta Platforms increased its fiscal year capital expenditure guidance to a range of $125 billion to $145 billion, up from the previous range of $115 billion to $135 billion.
Alphabet's Gemini Enterprise product experienced 40% quarter-on-quarter growth.
Amazon's trailing 12-month free cash flow fell from $26 billion to $1.2 billion due to spending on AI infrastructure.
The AI revenue run rate for Amazon Web Services (AWS) has surpassed $15 billion.
Amazon Web Services (AWS) has a contracted backlog of $244 billion.
Google Cloud reported over $20 billion in revenue, a 63% year-over-year growth rate.
Google Cloud's margins have expanded to nearly 30%, up from 20% six months ago.
Amazon's custom chipset business, including Trinium 2 and Inferentia, has reached a $20 billion annualized revenue run rate.