AMZN Stock Is Rising Today — Could Its New AI Shopping Push Be The Reason?

• Amazon says retailers can launch custom AI shopping assistants in as little as 60 days.
• The company is positioning AWS as a neutral AI infrastructure partner despite competing directly with many retailers.
• The push comes as OpenAI, Google, Walmart and others ramp up efforts in AI-powered shopping tools.

Shares of Amazon.com Inc (AMZN) gained on Wednesday after the company unveiled a new artificial intelligence push that could expand its influence beyond its own online marketplace.

The AMZN stock was over 2% higher following the announcement. 

AWS To Help Retailers Build AI Shopping Assistants

Amazon is taking its AI shopping technology beyond its own platform. Through Amazon Web Services (AWS), the company is offering retailers the tools behind Alexa for Shopping, its recently rebranded AI shopping assistant, to help them build their own AI-powered shopping features.

Amazon said in a blog post that retailers can use the service to launch customized AI shopping assistants tailored to their storefronts, product catalogs and branding in as little as 60 days. The company has already been using the technology internally to help customers compare products, make purchases and reorder items. 

AMZN Brings Alexa Shopping Tech To Retailers

Amazon renamed its e-commerce chatbot Rufus to Alexa for Shopping Earlier this month, and made it a default feature in search queries on its platform. The company is now offering the tool through AWS, a move that could make retailers more comfortable working with Amazon and sharing data.

Amazon said luxury fashion brand Kate Spade is already using the service to power a gifting assistant, while more retailers are testing the platform. 

OpenAI, Google Battle For AI Commerce

The competition in AI-powered shopping is growing quickly. In the past, companies like OpenAI, Google and Perplexity have launched AI tools and shopping assistants to help users research and buy products online.

Retailers like Walmart, Target, Etsy, Gap and eBay are also investing in AI shopping features while partnering with tech companies.

AMZN Stock: What Stocktwits Retail Sentiment Says

On Stocktwits, retail sentiment around AMZN remained “bearish,” unchanged over the past 24 hours.

AMZN stock has gained over 16% year-to-date and nearly 33% in the past 12 months.

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