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Amazon (AMZN) AWS Picked by Ferrari, Bolsters Client Base

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Amazon’s (AMZN - Free Report) cloud computing arm — Amazon Web Services (“AWS”)—entered an agreement with Ferrari (RACE - Free Report) .

Notably, Ferrari selected AWS as its official cloud, Machine Learning, and AI provider to bring advancements across its road cars department, GT Competitions, the Ferrari Challenge, and the Scuderia Ferrari FORMULA 1.

Ferrari will leverage AWS’s analytics, ML, compute, storage, and database capabilities such as Amazon Elastic Compute Cloud, AWS Graviton 2-based instances, Amazon SageMaker, Amazon Simple Storage Service, AWS Lake Formation and Amazon Elastic Kubernetes Service. These will aid Ferrari to streamline the design and testing of its cars.

Also, the company strives to gain insights about car performance on roads and tracks on the heels of AWS services.

Additionally, AWS compute, containers, and media services will be utilized by Scuderia Ferrari to unveil a digital fan engagement platform via its mobile app.

The latest move by Ferrari highlights the efficiency and reliability of AWS’s innovative cloud products and services., Inc. Revenue (TTM), Inc. Revenue (TTM), Inc. revenue-ttm |, Inc. Quote

Expanding Clientele

We believe that AWS will continue to witness growth in its clientele on the heels of its focus on enhancing service offerings.

Apart from Ferrari, BMO Financial Group recently selected AWS as its preferred and strategic cloud provider. BMO will leverage AWS’s analytics, machine learning, serverless, compute, storage and database. Further, it is migrating its workload, and its online and mobile banking applications to AWS.

Further, Disney is leveraging AWS to support the expansion of Disney+. Notably, Disney has selected AWS as the preferred public cloud infrastructure provider for the above-mentioned purpose.

Notably, growing clientele will continue to drive top-line growth of AWS, which has become an integral part of Amazon. In first-quarter 2021, AWS generated $13.5 billion in revenues (12% of total revenues), which rose 32% year over year.

Expanding Portfolio

We believe that AWS will continue to witness growth in its clientele on the heels of its focus on enhancing service offerings.

Recently, the company made its Amazon Location Service, which makes the addition of location functionality seamless, generally available.

Furthermore, AWS made the new capability for Amazon Elastic Container Service (“ECS”), Amazon ECS Anywhere, and its application delivery service, AWS Proton, generally available.

Also, it announced the general availability of its fully managed container application service — AWS App Runner.

Additionally, AWS made Amazon Nimble Studio generally available. Notably, the service speeds up the setting up of a content production studio from the duration of some weeks to a few hours.

Also, the company announced the general availability of AQUA for Amazon Redshift, which is a distributed and hardware-accelerated cache for Amazon Redshift.

We believe that strengthening AWS offerings will help Amazon in maintaining the dominant position in the cloud market, wherein competition is intensifying with the growing endeavors of peers like Microsoft (MSFT - Free Report) and Alphabet’s (GOOGL - Free Report) Google.

Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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