Amazon shares rise over 3% to record high after tie-up with Meta to supply Graviton chips

Amazon Inc shares saw renewed buying interest on Tuesday, 24 April, rising 3.2% to a record high of $263.13 after news that it will supply its Graviton processors to Meta Platforms, the parent of Facebook. Meta shares also gained, climbing 3.3% to $680 apiece.

Amazon on Friday entered into an agreement to provide Meta with tens of millions of Graviton cores to support the social media giant’s agentic AI workloads. Graviton is Amazon’s family of central processing units (CPUs) designed for cloud computing.