El precio de las acciones de Amazon se ubica en la novena posición en cuanto a actividad comercial en medio de una caída de volumen del 62 % mientras que las inversiones de IA y los cambios en liderazgo impulsan el impulso estratégico

Market Snapshot

On December 24, 2025, , . Despite the subdued volume, , . This modest gain came amid a narrow intraday range, reflecting cautious investor sentiment as year-end approaches. The drop in trading volume suggests reduced short-term liquidity, potentially linked to holiday-related market activity and strategic positioning ahead of the 2026 holiday season.

Key Drivers

Amazon’s stock performance on December 24 was shaped by a confluence of strategic developments and investor scrutiny, with three primary themes dominating the narrative: AI infrastructure investments, leadership reorganization, and concerns over capital expenditure (capex) accounting.

1. Strategic AI Investments and OpenAI Partnership
The most immediate catalyst for investor attention was Amazon’s reported $10 billion investment in OpenAI, . This potential partnership, highlighted by Reuters and the Financial Times, underscores Amazon’s push to solidify its position in the AI infrastructure race. By leveraging its custom Trainium chips for OpenAI’s models, Amazon aims to differentiate AWS from competitors like Azure and Google Cloud. For investors, the deal represents a validation of AWS’s long-term AI growth thesis and could justify higher capital expenditures if Trainium adoption expands beyond internal use. However, the fluidity of negotiations and uncertainty around OpenAI’s valuation leave room for volatility.

2. Leadership Restructuring to Unify AI Ecosystems
A parallel strategic shift involved Peter DeSantis taking charge of a newly consolidated AI division, merging Amazon’s AI models (including Nova/AGI), silicon (Graviton, Trainium), and quantum computing. This reorganization formalizes Amazon’s “AI flywheel” approach, where models, chips, and infrastructure operate as an integrated system. The move signals a departure from fragmented AI development and aligns with broader industry trends of vertical integration. While the departure of longtime AI executive Rohit Prasad may raise short-term execution risks, the restructuring is seen as a long-term play to accelerate innovation and reduce dependency on third-party tools.

3. Capex Scrutiny and Accounting Concerns
Investors also focused on Amazon’s AI-related capital expenditures and their implications for earnings quality. Reuters highlighted that Amazon, along with other “” firms, , potentially inflating earnings. While this practice does not indicate wrongdoing, it raises questions about how AI infrastructure spending translates into sustainable cash flow. As 2026 approaches, analysts anticipate tighter scrutiny over depreciation schedules, which could affect valuation multiples. This risk is amplified by Amazon’s Q3 2025 results, , pressured by heavy investments in data centers and AI infrastructure.

4. Peripheral Risks and Earnings Context
A minor but notable development was Amazon’s recall of 332 autonomous vehicles due to software issues. While this event had limited direct impact on the stock, it served as a reminder of the risks associated with Amazon’s “other bets” segment. Meanwhile, Q3 2025 earnings provided a baseline for investor expectations: AWS grew 20% year-over-year to $33 billion, , . These results reinforced the core question for 2026—whether AWS and advertising growth can offset the costs of AI infrastructure expansion.

5. Analyst Optimism and Market Positioning
Despite these challenges, Wall Street remains cautiously optimistic. A “Strong Buy” consensus among analysts, , reflects confidence in Amazon’s ability to leverage AWS and AI-driven advertising. BMO Capital and TD Cowen have highlighted the company’s “full-stack” AI strategy and enterprise adoption trends as key drivers. However, bearish arguments persist, particularly around capex sustainability and competitive pressures from Azure and Google Cloud. .

6. Regulatory and Legal Overhangs
Finally, ongoing antitrust litigation and the FTC settlement remain active overhangs. , legal costs and regulatory scrutiny could weigh on margins. Investors will closely watch the resolution of these issues, as they represent a significant, non-recurring drag on profitability.

In conclusion, Amazon’s stock on December 24 reflected a delicate balance between bullish AI-driven narratives and caution over execution risks. While the OpenAI deal and leadership changes signal strategic momentum, capex concerns and peripheral risks highlight the challenges of maintaining growth in a high-stakes, capital-intensive sector. As 2026 unfolds, the market will likely pivot between these themes, with AWS performance and free cash flow durability serving as the ultimate arbiters of investor sentiment.