Amazon.com, Inc. (AMZN) Strengthens AI Momentum with HCLTech Partnership

Amazon.com Inc. (NASDAQ:AMZN) is one of the AI stocks analysts are betting on. HCLTech announced a new partnership with Amazon Web Services on November 25, aimed at speeding up innovation in the financial services sector. By combining HCLTech’s industry expertise with AWS’s cloud and AI capabilities, the two companies plan to help banks and insurers modernize outdated systems, improve customer experience, and meet regulatory expectations. HCLTech’s financial services head, Srinivasan Seshadri, said the collaboration is designed to address long-standing industry challenges and support a shift toward more autonomous operations.

Amazon.com, Inc. (AMZN) Strengthens AI Momentum with HCLTech Partnership

Under the agreement, HCLTech will introduce pre-built, compliant solutions that streamline contact centers, strengthen digital engagement, and upgrade core platforms across banking, wealth, and insurance. Financial institutions will also gain access to strategic consulting built on AWS technologies. Leaders from Jefferies and AWS noted that the collaboration will help organizations innovate faster and adopt secure, modern digital systems at scale.

On the same day, Rosenblatt Securities analyst Barton Crockett reiterated a Buy rating on Amazon with a $305 price target. Earlier, on November 12, Needham’s Laura Martin also maintained her Buy rating, reflecting sustained optimism about the company’s long-term performance. Both analysts cite Amazon’s strong business fundamentals and disciplined growth strategy as major contributors to future value creation.

Martin pointed to Amazon’s focus on ROIC and free cash flow as key to its effective capital allocation. She highlighted the company’s strengths in logistics, energy expansion, and custom chip development—all of which help Amazon avoid bottlenecks and expand market share. She also noted that new AWS foundation models like Nova support stronger enterprise monetization, reinforcing expectations for continued growth.

Amazon.com Inc. (NASDAQ:AMZN) is a technology company that applies artificial intelligence (AI) and machine learning (ML) across its entire business ecosystem and provides a comprehensive suite of AI services for developers and enterprises through Amazon Web Services (AWS).

While we acknowledge the potential of AMZN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.