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Amazon AMZN is constantly gaining traction among sports clients on the back of its robust cloud services portfolio.
This is evident from the latest five-year agreement between Amazon Web Services (“AWS”) and FWD Group Holdings Limited (“FWD”). The agreement is the extension of the latter’s cloud technology collaboration with AWS.
This highlights the efficiency and reliability of AWS's innovative cloud products and services.
Per the agreement, AWS has become the strategic cloud provider of FWD. In order to support its cloud-first strategy, FWD intends to leverage AWS’s cloud computing capabilities, agility and scalability.
Amazon.com, Inc. Price and Consensus
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Customer Base Expansion
The latest move of FWD has added strength to AWS’s customer base.
AWS’s concerted efforts toward bolstering its service offerings are likely to continue driving its customer momentum.
Recently, NinjaTech AI partnered with AWS to launch its next-generation AI agent called Ninja, which has been trained using the latter’s machine learning (ML) chips Trainium and Inferentia2 in order to make them powerful and useful.
CrowdStrike CRWD extended its strategic partnership with AWS to accelerate cloud security and AI innovation. Notably, CrowdStrike is using Amazon Bedrock and Amazon SageMaker in order to boost innovation in SIEM transformation, and novel cybersecurity AI use cases. More precisely, CrowdStrike aims to accelerate the development of generative AI capabilities in its Falcon Platform.
In addition, Brightcove started using Amazon’s generative AI assistant called Amazon Q Business on AWS internally for real-world use cases applicable to the enterprise, media, and entertainment technology sectors.
BlackBerry recently unveiled a generative AI-backed cybersecurity advisor called Cylance Assistant, which leverages Amazon Bedrock to enable organizations to enhance their cyber security operations.
Zilch extended its collaboration with AWS to expand the use of the latter’s AI and ML services in order to accelerate sales in the next two years, and improve customer service and lending decisions.
We believe that AWS’s expanding customer base will continue to drive its top-line growth. In first-quarter 2024, AWS generated revenues of $25.04 billion (18% of the total sales), which grew 17% year over year.
The strengthening performance of AWS, which has become the key catalyst of Amazon, will likely instill investor optimism in the stock in the days ahead.
AMZN has gained 20.3% year to date.