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The cryptocurrency market’s momentum is slowing down once again after exhibiting high trading volume throughout the week. Bitcoin and Ethereum’s price manages to hold support, with BTC trading above $19k and ETH holding above $1,300. Let’s look at any relevant news affecting crypto prices this week.

Amazon stock AMZN nosedived over 7% ahead of Friday’s opening bell as investors reacted to the company’s weaker-than-expected June-quarter report. Revenue for the ecommerce and cloud computing giant landed at $148 billion up 10% year-on-year but some $700 million shy of Wall Street’s consensus views. Earnings per share hit $1.26, a majestic 94% rise from last year to log net income of $13.5 billion. But sales weren’t as good as projected. And that’s when AI comes to the rescue.

Big Tech Stock Performance After Capex Figures

Markets are getting increasingly cost-conscious when it comes to how much Big Tech shells out on artificial intelligence. Amazon’s spending spree is the latest example of that, following Microsoft’s big-ticket splurge for the same quarter. Amazon’s chief financial officer Brian Olsavsky said on Thursday that capital spending in the second half will surpass the first half’s expenses. Shares of Amazon are up 22% on the year ahead of today’s session. In late June, Amazon crossed the $2 trillion mark.