Amazon announced on Monday a seven-year deal to supply cloud computing capacity to the maker of ChatGPT. ・Retail investors and analysts say the deal is a major win for Amazon Cloud Services, which was previously seen as lagging behind its competitors.

A massive internet outage stemming from errors in Amazon cloud services on Monday morning demonstrated just how many people rely on the corporate behemoth's computational infrastructure everyday — and laid bare the vulnerabilities of an increasingly concentrated system.

Amazon.com Inc.’s cloud unit posted the strongest growth rate in almost three years, reassuring investors who were concerned that the largest seller of rented computing power was losing ground to rivals.

Shares in Amazon soared about 11% to reach a new record high Friday after the firm reported its strongest cloud growth since 2022 – easing investor fears that industry giants have been overspending on AI.

A problem at Amazon’s cloud computing service disrupted internet use around the world. The outage on Monday took down a broad range of online services, including social media, gaming, food delivery, streaming and financial platforms.