BofA says Amazon Web Services, or AWS, CEO Adam Selipsky kicked off the company’s “Re:Invent” conference with “an upbeat keynote” that emphasized the AWS advantage in providing broader sets of services and features, more availability zones, and advanced hardware, with a strategic focus on building GenAI capabilities and real world applications. With several new AI products, growing hardware capabilities, a growing GenAI customer base, a new proprietary Olympus LLM coming, the firm sees AWS being poised for a greater AI tailwind in 2024 and the potential for positive sentiment shift on AWS’ AI positioning. BofA maintains a Buy rating and $168 price target on Amazon shares.
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