Andy Jassy explains Amazon’s 14,000 layoffs, buying Nvidia chips, upcoming Trainium3 AI chips, AWS capacity and sales growth, and its Bedrock AI agent platform.

US stocks finished the first trading day of November mixed, with Big Tech names like Amazon (AMZN) and Nvidia (NVDA) rising near record-high levels, fueling a continued rally in the AI trade even as those gains weren't broadly distributed.

Analysts raise targets to $350 as orders hit $500B. Amazon secures GPUs for OpenAI in $38B deal. UAE export approved.

A triad of growth drivers and a long track record of operational excellence will ensure this company's admittance into an elite fraternity.

The Dow handed over 0.5% in afternoon trade with Nvidia a big loser. The Nasdaq composite suffered a 1.8% drop, and the S&P 500 retreated 1%, with Palantir stock sliding nearly 9%. Small-cap stocks on Tuesday were spared the wrath, illustrated by the Russell 2000 index giving up 1.5%.

Stocks rose Friday after solid earnings from tech giant Amazon helped boost sentiment. The tech-heavy Nasdaq Composite rose 0.6%, while the S&P 500 and Dow Jones Industrial Average briefly dipped into the red before recovering later in the day.

Nvidia recently became the first company to reach a $5 trillion market cap. Amazon.com isn't the next-largest company, but it has a high probability of rapid growth. A combination of massive opportunities and a reasonable valuation could help propel Amazon to a higher market cap.

Broadcom stock sold off nearly 2%, extending a losing streak to three sessions and falling below a recent buy point at 363.24. Nvidia stock rallied 2.2%, closing further above a 184.48 buy point and closing just shy of last week's record highs.