Amazon’s shares have seen a 16.1% increase this year, outperforming the Internet Commerce industry. AWS is driving this success through its generative AI capabilities, demonstrated by its partnership with SAP to accelerate the implementation of generative AI for companies. This collaboration allows SAP to integrate Amazon Bedrock generative AI models into its ERP applications, showcasing AWS as the first cloud provider certified to support SAP’s portfolio.
The global generative AI market is expected to reach $191.8 billion by 2032, and AWS is well-positioned to capitalize on this growth. Amazon Bedrock provides high-performance core models through an API, along with Amazon CodeWhisperer for custom code suggestions. The partnership with NVIDIA and the introduction of Blackwell GPU platform on AWS further enhances its generative AI offerings.
AWS’s expanding client base reflects its strength in the market. Partnerships with NinjaTech AI, CrowdStrike, Brightcove, and BlackBerry have leveraged AWS’s AI capabilities for innovation in various sectors. AWS generated revenue of $25.04 billion in the first quarter of 2024, driving Amazon’s overall performance.
With a growing customer base, AWS remains a dominant player in the global cloud market. Amazon holds 31% market share, followed by Microsoft and Google. Microsoft’s Azure AI and Google’s Cloud are also experiencing growth, contributing to their overall revenue.
In conclusion, Amazon’s focus on generative AI, expanding client base, and strong partner network position it well in the competitive cloud market. Investors may find Amazon an attractive option based on its current performance and growth prospects.
Article Source
https://finance.yahoo.com/news/amazon-amzn-rides-aws-amid-134900529.html