During Amazon's third-quarter earnings call, CEO Andy Jassy said Amazon Web Services (AWS) is still growing as more companies move to the cloud. He noted that about 85% of global IT spending remains on-premises, and that over a 10 to 20 year cycle this balance will flip toward the cloud. Workloads long considered unlikely to move, such as mainframes and storage array networks, are now shifting, as AWS has built cloud substitutes and AI-driven migration tools. He said enterprises gain lower capital expenditure, reduced operating costs, faster innovation, better developer productivity and easier data access to leverage AI.
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AMZNcloud computingartificial intelligenceearnings
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Related tickers and likely impact
AMZN
▲ Likely positiveAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/29/2026 | 244.23 |
| Change that session | -4.07% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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