Amazon runs the largest online store in the United States and rents cloud computing to businesses and governments through Amazon Web Services. AWS pioneered renting computing power over the internet, and Amazon built its own delivery network to get orders to customers quickly. Shoppers buy from Amazon and from independent sellers on its store, and Prime members pay a subscription for fast free shipping, streaming video and music, and other perks. AWS rents out computing power, storage, databases, and AI tools so companies can run software without owning servers, and Amazon also makes Kindle e-readers and Echo speakers with the Alexa assistant. Jeff Bezos founded Amazon in 1994, and it is based in Seattle, Washington.
Company Size
10,001+
Company Stage
IPO
Headquarters
Seattle, Washington
Founded
1994
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Amazon has launched three Alexa-branded tablets that run Google's Android and carry prices of $229.99 to $549.99, abandoning the low price that defined its Fire line. The Alexa Tablet 8 costs $229.99, the Tablet 11 costs $329.99, and the Tablet 12 Pro starts at $499.99 ($549.99 with an anti-glare Nanomatte finish). The devices have the full Google Play Store, stronger processors, better screens, and aluminium bodies. Apple's standard iPad costs $449, so the Pro now starts above it. Amazon is betting its Alexa+ AI assistant, built into the tablets, will justify the higher price. The move comes as Amazon's global tablet market share fell to 1.9% in the second quarter of 2026 from 8% a year earlier, according to Reuters.
Amazon is closing an unspecified number of grocery partner storefronts on Amazon.com, the company confirmed on Tuesday. It said the move will simplify online shopping and reduce friction, and it will guide shoppers to the best grocery options on its marketplace. Separate storefronts forced shoppers to deal with varying fees, delivery windows, and checkout experiences. Partners have included Winn-Dixie, Metropolitan Markets, and Weis Markets in the US, and Morrisons in Europe. Amazon did not say which partners will be affected. Amazon will instead work with grocers on other services, such as hosting Amazon Lockers and using AWS cloud services. A limited number of jobs are affected, and Amazon is helping those staff find new internal roles. The company offers same-day fresh grocery delivery in more than 2,300 US cities and towns, plus parts of Tokyo and London.
Apple, Amazon, and Microsoft have each unveiled AI devices in the past week, hoping to bring generative AI into homes before the holidays. Analysts expect modest sales for now, as weak consumer sentiment and rising component costs weigh on the market. Microsoft showed a Windows laptop from $2,599 with an RTX Spark chip that runs AI without the cloud. Amazon's largest Alexa Tablet 12 Pro costs $550, and its new Alexa requires a $19.99 monthly subscription or Prime membership. Apple's HomeView smart home hub costs $299 and has a 7-inch screen and facial recognition. Its $1,999 folding iPhone Duo reaches stores next week. IDC analyst Jitesh Ubrani said the aim is to get devices into homes and teach users, laying groundwork for bigger launches.
Peter Thiel's investment firm, Thiel Macro, has 42% of its portfolio in two artificial intelligence stocks, both bought in the second quarter. Amazon makes up 28% and Vistra Energy 14%. Thiel Macro beat the S&P 500 over the last six quarters, despite holding no stocks in two of them. Amazon's cloud unit, Amazon Web Services, grew revenue 37% in the second quarter, its fastest pace in more than four years. The stock trades at 21 times earnings, and analysts' median target of $330 implies 27% upside from $259. Vistra, the largest competitive power producer in the US, signed power deals with Meta Platforms and Amazon. Its median target of $210 implies 29% upside from $162.
Amazon (NASDAQ: AMZN) shares have fallen 10% since peaking two months ago, which one analyst sees as a buying chance. Concerns over rising AI spending and a rotation out of consumer tech stocks have weighed on the stock, which slightly lags the market in 2026. The business is growing fast. Net sales rose 20% last quarter, the strongest year-over-year jump since 2021. Amazon Web Services (AWS) revenue surged 37% in the second quarter on AI demand; AWS makes up a fifth of revenue but three-fifths of operating profit. North American e-commerce sales rose 16%, helped by Amazon's AI shopping assistant, Rufus. At less than 25 times next year's earnings, the article argues, Amazon's premium is available at a discount.