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Amazon.com, Inc. (NASDAQ:AMZN) is one of the 10 Best American Tech Stocks to Buy. On April 29, Reuters reported that Amazon.com, Inc. (NASDAQ:AMZN) posted stronger-than-expected cloud sales ​growth, supported by higher enterprise spending as companies continue to invest heavily in AI.

Amazon Web Services (AWS) saw revenue rise 28% to $37.6 billion in the first quarter, surpassing market expectations, which had forecast growth of 25%, according to LSEG data. Overall, Amazon.com, Inc. (NASDAQ:AMZN) reported net sales increased to $181.5 billion.

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The company’s CEO, Andy Jassy, said ‌the company is keeping its plan to invest $200 billion in AI this year. This helped ease concerns among investors, who have seen Big Tech sharply increase spending on data centers, which are required for AI workloads.

According to the report by Reuters, Amazon.com, Inc. (NASDAQ:AMZN) is one of the best performers in the “Magnificent 7” group as the company continues to reassure investors that its AI investments will generate returns in the near term.

Jesse Cohen, senior analyst at Investing.com, noted that “the significant reacceleration in AWS sales growth is the standout story.” He added that the company’s customers “are fully embracing new workloads, especially in AI.”

Amazon.com, Inc. (NASDAQ:AMZN) is an American technology company that focuses on e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions.

While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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