Amazon shares sink 7% as AI spending fuels cash-burn concerns, overshadow cloud growth
Amazon cloud business accelerates but shares drop on profit miss Amazon shares fell sharply in after-hours trading on Thursday (local time) as heavy artificial intelligence investments and a weaker-than-expected earnings performance overshadowed accelerating growth in its cloud computing business.The e-commerce and technology giant’s shares dropped as much as 7% after it reported third-quarter results that…