Amazon.com (AMZN): Procore Technologies, Inc. Signs Multi-year SCA With AWS

Amazon.com, Inc. (NASDAQ:AMZN) is one of the Top Technology Stocks to Buy According to Hedge Funds. On August 26, Procore Technologies, Inc. announced that it has signed a multi-year strategic collaboration agreement (SCA) with Amazon.com, Inc. (NASDAQ:AMZN)’s AWS. Notably, the SCA demonstrates a joint commitment to co-invest in go-to-market activities as well as product innovation targeting the global construction industry and adjacent verticals that drive construction initiatives. The availability of Procore in AWS Marketplace and the joint go-to-market initiatives will help customers access the transformative solutions.

Amazon.com, Inc. (NASDAQ:AMZN)’s net sales rose 13% to $167.7 billion in Q2 2025 as compared to $148.0 billion in Q2 2024. AWS segment sales went up by 17.5% YoY to $30.9 billion. Amazon.com, Inc. (NASDAQ:AMZN) highlighted that AWS has an annualized revenue run rate of over $123 billion. During Q2 2025, there was growth in both its generative AI and non-generative AI businesses. Amazon.com, Inc. (NASDAQ:AMZN) plans to continue its investment spree in chips, data centers, and power in a bid to pursue the huge opportunity in Gen AI.

Investment management company Vulcan Value Partners recently released its Q2 2025 investor letter. Here is what the fund said:

“Amazon.com, Inc. (NASDAQ:AMZN) is a dominant, world-class company with powerful secular tailwinds in place including its e-commerce penetration, digital advertising growth, and the transition to the cloud. Amazon reported strong results during the first quarter. The company’s stock rebounded during the second quarter.”

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Disclosure: None. This article is originally published at Insider Monkey.