Amazon Stock Just Keeps Rising. Here’s the Latest Catalyst Driving Shares Higher — and a Close Look at the Stock. | The Motley Fool

Shares of Amazon (AMZN 0.67%) just keep climbing.

As of this writing, the e-commerce and cloud computing giant’s stock is up more than 25% over the last 30 days. The latest catalyst? A new deal with Meta Platforms (META 0.08%), in which the Facebook parent will use Amazon Web Services’ Graviton5 central processing unit (CPU) chips to help power artificial intelligence (AI) workloads.

This has Amazon investors upbeat, as it’s becoming increasingly clear that the company’s custom silicon strategy is a winning one. And this builds on a much bigger theme investors have been warming up to lately: Amazon’s massive investments look likely to pay off handsomely — and maybe even sooner than investors had originally thought.

A major Meta win

Meta and Amazon announced on Friday that Meta will use AWS’ Graviton5 CPU chips in a massive multiyear deal. Meta will use “tens of millions of cores” worth of Graviton chips, said Amazon engineering executive Nafea Bshara…