Amazon Stock Climbs as Analysts Raise Price Targets on Soaring AI Growth

Key TakeawaysMultiple analysts raised their price targets for Amazon after the company's third-quarter results beat Street expectations.CEO Andy Jassy said the company's artificial intelligence (AI) business is growing three time faster than Amazon Web Services (AWS) did at a similar stage of development.Amazon expects to increase its capital expenditure this year, most of which is going toward technology infrastructure to support AI. Amazon (AMZN) shares jumped Friday as multiple analysts raised their pric ...