Amazon beats cloud sales estimates; shares jump 9%

Amazon.com reported better-than-expected cloud sales growth for the second quarter, easing investor concerns about heavy spending on artificial intelligence. Shares rose over 9% in after-hours trading. AWS, the company's cloud unit, highlighted a $15 billion annual AI revenue run rate. Advertising revenue surged 26% to $19.8 billion, and Prime Day spending exceeded $26.4 billion. The results follow strong cloud performances from Microsoft and Google.