By Adam Clark

Nvidia was rising on Friday following earnings from customer Amazon.com, which said it would continue to spend heavily on artificial-intelligence infrastructure,

Nvidia shares were rising 0.8% at $112.51 in premarket trading. The stock rose 2.5% in Thursday's session.

Amazon gave a reassuring look at trends of spending on artificial-intelligence infrastructure, as its first-quarter capital expenditure came to $24.3 billion, up from $13.9 billion in the same period the previous year in its earnings report on Thursday. That leaves it broadly on track for its planned $100 billion spending this year.

"[The capex] primarily relates to AWS [Amazon Web Services] as we invest to support demand for our AI services and increasingly in custom silicon like Trainium as well as tech infrastructure to support our North America and International segments," executives said in a call with analysts.

Despite the reference to in-house chips, the continued pace of spending is likely good news for Nvidia after Microsoft and Meta Platforms also both said they would continue investing heavily in AI data centers this week. An Amazon executive pushed back against reports that it was pulling back on AI infrastructure last month.

Among other chip makers, Advanced Micro Devices was up 0.7% and Broadcom was up 0.9% in premarket trading.

Write to Adam Clark at adam.clark@barrons.com

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May 02, 2025 05:19 ET (09:19 GMT)

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