Amazon shares rose about 10% in after-hours trading to $258 after CEO Andy Jassy defended the company's substantial spending on artificial intelligence, pushing the stock to its highest level since early June.
Key facts
- Amazon shares jumped about 10% in after-hours trading.
- The stock reached $258.
- Shares hit their highest level since early June.
- CEO Andy Jassy made the case for the company's AI investment.
Amazon shares surged in after-hours trading after CEO Andy Jassy defended the company’s substantial investment in artificial intelligence, according to CNBC.
The stock jumped about 10% to $258 in after-hours trading, CNBC reported. That move put shares at their highest level since early June.
The rally followed comments from Jassy making the case for the company’s massive AI spending, CNBC said.
The report highlights the market’s response to Amazon’s AI strategy, with investors reacting positively to the CEO’s remarks.
Why it matters
Amazon is among the largest companies investing heavily in artificial intelligence, and its stock moves can influence the broader market. A sharp positive reaction to the CEO's defense of that spending signals investor confidence in the company's AI strategy.
Frequently asked questions
How much did Amazon's stock rise?
According to CNBC, Amazon shares jumped about 10% to $258 in after-hours trading.
Why did Amazon shares surge?
CNBC reported that the stock rose after CEO Andy Jassy made the case for the company's massive AI investment.
What level did the stock reach?
CNBC said the move put Amazon shares at their highest level since early June.