Investors had been closely watching Amazon’s quarterly earnings to see if the company’s big spending on AI is starting to pay off. The reports offer investors a read on AI spending and cloud computing growth across the industry. Amazon’s results from the latest quarter underscored that demand keeps growing for Amazon’s services and technology . Analysts were expecting sales of $197.03 billion for the latest quarter. Amazon said it expects net sales to be in the range of $197 billion to $202 billion.