Amazon Stock Rallies On New SuperComputer Plans, Record Holiday Sales: Retail Sentiment Jumps
By Stocktwits Inc | First Published Dec 4, 2024, 1:55 AM ISTRetail sentiment on the stock turned 'extremely bullish' (76/100) from 'bullish' (56/100) a day ago.
Amazon.com shares ($AMZN) were up more than 1% on Tuesday afternoon after the company made a slew of tech-related announcements, including plans for a new supercomputer, lifting retail sentiment.
Matt Garman, the CEO of Amazon Web Services (AWS), reportedly spoke about its forthcoming supercomputer, which will fall under a project named 'Rainier' at the Re:Invent conference in Las Vegas. The supercomputer will be built in collaboration with Anthropic.
Retail sentiment on the stock turned 'extremely bullish' (76/100) from 'bullish' (56/100) a day ago. Message volumes continued to be in the 'high' zone.
According to a WSJ report, Amazon Web Services is also launching a new server named 'Ultraserver' that comprises 64 of its own interconnected chips. Amazon has reportedly invested an additional $4 billion in Anthropic, which will use the 'Ultraserver.'
The company also unveiled "Trainium3, its “next-generation” AI training chip. The Trainium3 chips are reportedly designed for high-performance needs of the next frontier of generative AI workloads, the company said.
AI semiconductors are expected to grow to a projected $117.5 billion in 2024 and $193.3 billion by 2027-end, WSJ report added citing data from IDC.
Amazon stock has rallied over the past five days. The company also announced a record Holiday shopping week on Tuesday. According to a press statement, the Black Friday Week and Cyber Monday holiday shopping event—from November 21 through December 2—was its "biggest ever" compared to the same 12-day period ending on Cyber Monday in prior years.
Amazon stock is up 42% year-to-date and nearing a new all-time high.
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