Amazon is set to report its quarterly earnings after the bell, with a focus on AI initiatives, particularly in the context of AWS growth. Analysts are keen to see the impact of AI on Amazon's performance, especially following recent volatility in tech stocks. AWS has achieved a significant milestone with a $100 billion annual revenue run rate, showing a 17% year-over-year increase this quarter, indicating strong growth despite competition. The market is anticipating how Amazon's earnings report will influence market sentiment on artificial intelligence investments.