Jeff Bezos files to sell $4 billion in Amazon stock

Jeff Bezos filed plans to sell nearly $4.1 billion in Amazon stock on Monday, after the e-commerce company reached a new all-time high. The filing came shortly after Amazon reported results that beat earnings estimates, with revenue up 20% from last year. The company attributed the growth to better-than-expected performance in its cloud-computing business. The article links the stock surge to investor expectations that Amazon’s large artificial intelligence investments are starting to pay off. Bezos’s move does not change Amazon’s operating results, but it highlights that even at record highs, major shareholders continue to manage their holdings.