Amazon Web Services (AWS) announced an investment of $100 million in a new Generative AI Innovation Center. This innovative move serves to bridge the gap between AWS's machine learning and AI specialists with their customers and partners. Amazon is planning to externalize its advanced artificial intelligence , known as large language models, later this year. The introduction of Generative AI is expected to be a significant driving force for Amazon's business, promising to foster innovation and streamline solutions. They add that AI improvements will transform Alexa into more of a "personalized aide".
Amazon shares have moved up to the highest level since September 15, 2022. The high price for the day just reached $129.92. The current prices trading up $4.87 or 3.9% at $129.60. The 50% midpoint of the move down from the 2022 high comes in at $134.74. That is the next major technical target on the daily chart (see chart below).
