Amazon ( (AMZN) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Amazon’s strategic investments in artificial intelligence and streaming services are making waves in the financial market. The company is backing AI startup Anthropic, which plans to invest $50 billion in U.S. data centers to support its growth and research. This move is expected to create thousands of jobs and highlights the increasing focus on AI infrastructure among tech companies. Amazon’s significant $8 billion investment in Anthropic underscores its commitment to expanding its AI capabilities.
In addition to its AI ventures, Amazon’s Prime Video has reached a milestone of 315 million monthly ad-supported viewers globally, marking a significant increase from 200 million earlier in the year. This growth in viewership is enhancing Amazon’s revenue streams and competitiveness in the streaming sector, offering new opportunities for advertising and audience engagement. With a strong buy consensus from analysts and a projected 19% upside in stock value, Amazon’s diverse investments are positioning it for sustained growth in the tech and entertainment industries.