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Amazon Web Services (AWS) has announced the establishment of a new Generative AI Innovation Center, which has received a $100 million investment. This move aims to bridge the gap between AWS’s machine learning and AI specialists and their customers and partners. Amazon plans to launch its advanced artificial intelligence technology, called large language models, later this year. The introduction of Generative AI is expected to have a significant impact on Amazon’s business, fostering innovation and simplifying solutions. Additionally, AI advancements are set to transform Alexa into a more personalized assistant. The financial services industry is one area that could benefit significantly from AI’s impact.
The price of Amazon shares has reached its highest point since September 15, 2022, with the highest price for the day being $129.92. Currently, the price is trading at $129.60, which is an increase of $4.87, or 3.9%. The midpoint of the price decrease from the 2022 high is at $134.74, which is the next significant technical objective according to the daily chart (as shown below).
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