Amazon reports Q2 profits up 35% to $18.2 billion, but shares dip on AI investment concerns.

Amazon reported a 35% jump in Q2 profits to $18.2 billion, with net sales up 13% to $167.7 billion. The cloud computing arm, Amazon Web Services, saw a 17.5% growth. Despite strong results, the company's shares fell in after-hours trading due to cautious forecasts for the current quarter and concerns over AI investment costs. Amazon's international and North American sales grew by 16% and 11% respectively, while advertising revenue surged 23%. The company plans significant AI investments, including in generative AI and its computer chips.