Thanks to strong demand for artificial intelligence, Amazon's cloud business performed better than expected, leading to a rise in stock prices.

Amazon announced on Wednesday that its cloud business revenue growth exceeded Wall Street expectations, mainly benefiting from strong corporate spending - as companies continue to invest heavily in developing artificial intelligence businesses. CEO Andy Jassy said the company is maintaining its goal of $200 billion in artificial intelligence investments this year, which has reassured investors. Previously, tech giants had scrambled to raise capital expenditure forecasts to billions of dollars to expand data center capacity for artificial intelligence workloads. In volatile after-hours trading, the stock rose nearly 4%. Data shows that Amazon Web Services' first-quarter revenue surged 28% to $37.6 billion, surpassing analysts' average expectation of a 25% increase. Overall net sales increased to $181.5 billion.