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Amazon has unveiled its second-quarter earnings report, showcasing revenue and earnings per share that surpassed analyst expectations. Nonetheless, the outlook for third-quarter operating profit fell below projections, triggering a decline in share prices. AWS, Amazon's cloud arm, reported a 17% revenue growth, marginally exceeding forecasts, yet this growth rate trailed behind Microsoft and Google Cloud. The company is pouring record-breaking capital expenditures into artificial intelligence, yet it grapples with challenges like data center power supply. CEO Andy Jassy emphasized AWS's leadership in security and availability, noting that the company is still in the nascent stages of AI development. During the earnings call, analysts voiced concerns over the deceleration in AWS growth, causing Amazon's share price to plummet by nearly 8% in after-hours trading.
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