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.

Amazon.com Inc. shares have largely climbed on the back of two trends: strength in its cloud business and a focus on costs.

Ralf Groene is reuniting with Panos Panay to lead design for Amazon’s devices and services business. Ralf Groene is reuniting with Panos Panay to lead design for Amazon’s devices and services ...