Shares of Marvell and Astera Labs increased following reports of Amazon AI chip sales. The movement comes as Amazon reported Q2 2026 financial results showing 20% year-over-year revenue growth.
Amazon's Amazon Web Services (AWS) business showed an increase, growing 36.7% year-over-year in the second quarter. This represents the fastest growth for the unit in 18 quarters.
AWS growth rate in Q2
Amazon's AI and Chips businesses each exceeded run rates of more than $25 billion. Andy Jassy, Amazon's president and CEO, described the growth of AWS as booming.
AWS is booming, growing 36.7% year-over-year in Q2--our fastest growth in 18 quarters
Impact on Astera Labs
Astera Labs (NASDAQ: ALAB), a provider of connectivity solutions for artificial intelligence (AI) infrastructure, saw its shares close 20% higher on Wednesday. Earlier in the day, shares were up 3.6% after having previously risen 14%.
Astera Labs is expected to report its quarterly earnings next week.