New Delhi, Aug. 29 -- At Amazon.com Inc., the question heading into Friday was whether Amazon Web Services had anything left to prove after a quarter in which it posted $42.2 billion in revenue, grew 37% year-over-year, and expanded operating margins to 39.4%. The answer, in the form of a commitment to deploy an additional two million high-end NVIDIA GPUs across its global cloud infrastructure - a contract valued at approximately $208 billion - was that the buildout is nowhere near complete.

on a day when rate-sensitive growth stocks broadly declined, Amazon's cloud AI announcement carried enough weight to override the macro headwind.

The contract doubles an AWS-NVIDIA commitment made as recently as March. Amazon's total contracted GPU ...