Amazon AWS Revenue Boom and Amplitude AI Growth Signal Tech Sector Strength

Amazon reported a strong second‑quarter performance, with its cloud division Amazon Web Services posting a 37% year‑over‑year revenue increase to $42.2 billion. CEO Andy Jassy said the business now runs at a $169 billion annualized revenue rate, which would place it 24th on the Fortune 500 list if it were a separate company. The company also highlighted robust e‑commerce sales, accelerating advertising revenue, a $496 billion cloud backlog and a planned $220 billion capital‑expenditure budget for the year.

Product‑analytics firm Amplitude announced Q2 revenue of $100.9 million, up 21% from a year earlier, and total annual recurring revenue of $410 million, a 22% increase. The company emphasized its AI‑focused strategy, noting that AI agents now handle 1.3 million weekly interactions and generate more than 40% of insights. Amplitude posted a record free‑cash‑flow of $23.7 million, repurchased $69 million of its own shares, and highlighted AI‑driven improvements in its product development platform.