Amazon ‘s cloud leadership — and likely the next move in the stock — hinges on whether growth on that side of the business continues to reaccelerate. Custom AI chips are key to that effort. Investors widely view shares of Amazon, which also dominates in e-commerce, as driven primarily by the fortunes of its Amazon Web Services cloud unit, which generates a majority of the company’s operating income. That makes AWS performance the single most important factor for Amazon’s market value, which remains nearly $2.54 trillion despite being the worst Magificent Seven last year. And, AWS will be what Wall Street focuses on Thursday evening when Amazon reports its fourth quarter 2025 results and looks ahead to what to expect this year. A…
