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Amazon Reports Strong Growth in Cloud Business
Shares of Amazon (NASDAQ: AMZN) surged nearly 10% on a recent Friday after the company announced a 13% increase in third-quarter sales, reaching $180 billion. This growth was primarily driven by its cloud computing division, Amazon Web Services (AWS), which saw sales rise by 20% to $33 billion, up from 17.5% growth in the second quarter.
Furthermore, Amazon is planning to cut as many as 30,000 jobs across various segments while investing heavily in automation technologies. The company’s operating cash flow has increased by 16% to over $130 billion in the past 12 months, and Amazon anticipates capital expenditures of approximately $125 billion in 2025 to further enhance its position in artificial intelligence.
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