Amazon CEO Andy Jassy, left, speaking with Seattle Mayor Bruce Harrell at an event in Seattle last year to announce new funding for affordable housing

Both Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MSFT) saw strong growth in their cloud-computing business units in 2024. While Microsoft's Azure saw the higher revenue growth, it was Amazon's stock that outperformed in 2024.

That said, 20% earnings growth is still impressive and is reason enough to own the stock, as long as it can be purchased at a fair price. Amazon currently trades at 36 times 2025 earnings, which is a bit pricey.

Amazon.com said on Tuesday that its cloud computing division, Amazon Web Services (AWS), plans to invest about $11 billion to expand its infrastructure in Georgia to support cloud computing and AI technologies.

Data centers powering AI and cloud computing could soon grow so large that they could use more electricity than entire cities.

BlackRock is the world's largest asset manager, with $11.5 trillion in client money under its supervision. Around $3.3 trillion of that is sitting in exchange-traded funds (ETFs) that are operated by the company's iShares subsidiary.

Microsoft announced a sweeping series of artificial intelligence partnerships across India's core sectors on Wednesday, a day after pledging to invest $3 billion in the country over the next two years as it intensifies competition with rivals Google and Amazon.

Amazon and Microsoft, of course, are more than just their cloud businesses. Amazon is still the world's largest e-commerce and logistics company. It also owns the Prime Video streaming service.

The Magnificent Seven group of leading tech companies dominated in 2024... will they continue to shine in 2025?

"You can get started today," says human behavior professor and career coach Melody Wilding, author of "Managing Up."