Amazon Prime Day Breaks Sales Records, Amazon and AMD Stocks Surge

Amazon's Prime Day sale generated $26.4 billion in online spending, surpassing expectations. The success of the event drove Amazon's stock up 3.8% and fueled optimism about the company's AI strategy. AMD stock also rose, with some investors attributing the gains to the growth of AI.

AMZN shares rose about 3.8% on June 29 after Prime Day generated a record $26.4 billion in U.S. online spending across retailers over its June 23-26 run, up roughly 9.3% year over year and ahead of Adobe's estimate. The opening day alone drew about $8.3 billion, topping projections near $7.9 billion.

Investors read the strength as a vote of confidence in Amazon's consumer engine and its AI-driven retail and advertising strategy at a moment when shoppers are spending cautiously. The earlier-than-usual June calendar, a shift from Amazon's prior July timing, did not appear to dent demand.

AMD also traded higher into the session, with some investors linking the move to AI-infrastructure momentum rather than the retail event directly. The read-through to watch is whether record promotional volume converts into durable margin and Prime-membership gains, or simply pulls forward discounted demand.