By Niket Nishant and Rae Wee July 31 (Reuters) - Global stocks rallied on Friday as robust results from Amazon and Microsoft reassured bruised investors to return to AI trade, while currency traders stayed alert to intervention a day after Japanese authorities likely stepped in to prop up the yen.

The size of their respective cloud businesses matters, but there are other important considerations.

Amazon posted its second-quarter earnings after the closing bell on Thursday. Cloud growth vastly exceeded expectations.

Revenue for the quarter reached $201 billion, above expectations of $197 billion, and up 20% on the year.

The e-commerce and cloud giant still looks like a reliable long-term investment.

Amazon stock rises toward $239.59 after Q2 earnings, as investors assess AWS growth, AI spending, margins, and market outlook.

Wondering where Amazon stock may be in five years? Learn what the current state of AMZN stock is and what its five-year outlook may contain.

U.S. stocks rose to the finish of a wild July as Amazon leaped, Apple sank and rising oil prices worsened worries about inflation

Amazon stock surged after strong Q2 results as the company completed its $50 billion OpenAI investment and raised spending on AI infrastructure growth