AWS commits $5.3 billion, 50MW capacity to Saudi AI Zone by 2028

The DOJ expanded its beef price investigation to include major retailers: Kroger, Publix, Walmart, Albertsons, Aldi, Ahold Delhaize, Costco, and Amazon. The probe, initially focused on the 'Big Four' meatpackers, now scrutinizes retail-level price increases. The DOJ seeks information on recent beef price hikes, citing it as a critical concern for Americans.

A U.S. Senate panel is investigating Amazon (AMZN) over allegations of Chinese influence on its marketplace. According to Bloomberg, staff found evidence of potential negligence. AMZN stock fell 2% after-hours. The probe follows reports of an illicit network involving bribes. Independent merchants, who generate 60% of Amazon's sales, have raised concerns about account suspensions and support. Amazon declined to comment. AMZN stock is up 5.6% year-to-date.

Amazon faces a new FTC lawsuit alleging it overcharged advertisers, causing a 2% stock drop. Jim Cramer advises against selling, comparing it to Google's antitrust case. Amazon's Q2 revenue was $200.6B, up 20% YoY, with advertising revenue at $19.8B, up 26% YoY. The company denies wrongdoing, citing competitive rates and pricing guidance.

AWS and NVIDIA announced plans for AWS to deploy 2 million additional NVIDIA GPUs in 2027-2028, following an earlier plan for 1 million GPUs starting in 2026. Amazon (AMZN) aims to increase cloud capacity, while NVIDIA (NVDA) gains a long-term deployment roadmap. NVIDIA's Q2 revenue rose 106% to $96.2B, with Data Center revenue up 117% to $89B. Both companies face risks related to utilization, competition, and capital efficiency.

The FTC and 22 states sued Amazon, alleging its ad auctions cost advertisers $20bn+ since 2019. Amazon defended itself, stating reserve prices are unpredictable, even for itself. It claims ad performance improved over time, with lower winning bids and higher conversion rates. The case hinges on whether Amazon's auction descriptions were misleading. Amazon faces potential billions in penalties and another antitrust trial in 2027.

The DOJ is investigating Walmart, Amazon, and six other major grocery retailers regarding beef prices, citing inflation as a key concern. The probe follows a prior antitrust investigation into meatpackers and Trump administration efforts to lower beef costs, including tariff adjustments and import policies. Retailers and the DOJ declined to comment. Beef prices are influenced by factors like reduced cattle supply and high production costs.