E-commerce behemoth, Amazon reported a triple rise in its first quarter profits thanks to its ever booming cloud, advertising and retail operations.

On the other hand, its shares rose by one percent in the after-market trading as Wall Street is said to have watched closely regarding the expenses and potential effects of artificial intelligence.

Compared to a profit of $3.2 billion on $127.4 billion in sales in the same time last year, the Seattle-based company registered a $10.4 billion profit on revenue of $143.3 billion.

GlobalData’s managing director denoted that Amazon’s online stores’ sales rose by seven percent in the quarter amid pressure from competitors like Shein and Temu.

Senior analyst of Emarketer, Blake Droesch, suggested that Amazon’s e-commerce business is still in recovery period from last year’s setback as per the growth in online store sales.

The e-commerce titan’s CEO, Andy Jassy mention that businesses are upgrading their infrastructure thanks to AI capabilities and Amazon’s AWS cloud computing wing is expected to bring $ 100 billion in revenue this year.

Going by the financial numbers, AWS revenue for the latest quarter is said to have reached $25 billion, up from $21.4 billion during the same period in the previous year.

The e-commerce behemoth’s CEO also noted that Amazon’s newest advertising wing is picking up the pace both in its online stores and Prime streaming video platform.

Amazon’s ad sales is noted to have generated $11.8 billion in the quarter with a 24 percent increase in the same timeframe.

The e-commerce firm’s CEO said that the company has been reducing expenses and laying off about 27,000 jobs as of last year.

Also, last year the e-commerce giant was showered with praises from investors for its cost-cutting efforts, sales growth and the potential of its cloud computing platform in the upcoming AI era, leading to an almost 75 percent increase in its overall shares.

The Jeff Bezos-founded business is also testing Rufus, an AI chatbot that offers US mobile app users shopping advice.

Mow, it is said that the company intends to invest billions of dollars in AWS data centers in the US, Mexico, and Saudi Arabia in the upcoming years.