Key TakeawaysShares of Amazon climbed approximately 4% following Evercore ISI analyst Mark Mahaney’s price target increase to $355 from $315New survey data revealed 92% penetration among U.S. online shoppers and increasing AI-powered retail engagementAmazon Web Services is set to deploy 2 million Nvidia GPUs between 2027-2028, signaling robust cloud infrastructure expansionAnalysts maintain a Strong Buy rating on AMZN with a consensus price target of $334The company’s Q2 earnings showed EPS of $5.75, significantly exceeding the $1.82 estimate, with revenues increasing 19.6% year-over-yearShares of Amazon (AMZN) gained approximately 4% on Friday, starting the day at $266.43, following an analyst upgrade from Evercore ISI’s Mark Mahaney, who increased his price objective to $355 from the previous $315 while maintaining an optimistic rating.Amazon.com, Inc., AMZNAccording to TipRanks data, Mahaney holds the 423rd position among over 12,500 financial analysts and demonstrates an 84% accuracy rate on Amazon calls, with an impressive 21.81% average return per recommendation over one-year timeframes. His proven performance record lends credibility to this latest assessment.The price target revision was supported by findings from Evercore’s recent U.S. Online Retail survey, which highlighted multiple positive indicators for Amazon’s e-commerce operations.The data shows Amazon commands a commanding 92% penetration rate among U.S. online shoppers, significantly outpacing Walmart. Customer satisfaction scores reached 76%, while approximately 60% of Prime subscribers indicated they would maintain their membership even with a $20 annual fee increase.Emerging AI technology is also generating tangible commerce results. Survey responses revealed that 57% of users engaging with Alexa AI purchased products they hadn’t actively searched for, indicating artificial intelligence is generating fresh demand patterns beyond simply redirecting existing shopping behavior.Enhanced Logistics and Prime Member ValueFulfillment performance metrics showed notable improvement. Standard same-day delivery adoption recovered to 49%, while Prime subscribers utilizing same-day services now spend 3.1 times more than non-Prime customers—the largest spending differential Mahaney has observed in his coverage.Amazon’s Perishable Checkout feature is driving grocery category growth, with approximately half of exposed users adding fresh food items to their shopping carts.In terms of technology infrastructure, AWS is executing an aggressive expansion strategy. The cloud division plans to integrate 2 million premium Nvidia GPUs, featuring Blackwell Ultra and Rubin architectures, throughout 2027 and 2028. This expansion brings Amazon’s total disclosed semiconductor procurement to roughly 3 million units.Market participants interpret this substantial GPU investment as confirmation that artificial intelligence computing demand on AWS remains robust and that management is committed to capital deployment to capture this opportunity.Impressive Q2 Financial PerformanceAmazon’s latest quarterly results, announced on July 30, reinforced the positive momentum. The technology giant delivered Q2 earnings per share of $5.75 versus analyst expectations of $1.82, representing a substantial beat of $3.93 per share. Total revenue reached $200.61 billion, surpassing the $197.03 billion consensus forecast and marking a 19.6% increase compared to the prior year quarter.AWS revenue expanded roughly 37% to reach $42.2 billion in Q2, while Amazon’s artificial intelligence and semiconductor businesses each achieved annualized revenue run rates exceeding $25 billion.Among institutional investors, Athena Wealth Management expanded its Amazon holdings by 47% throughout Q2. Multiple other investment firms similarly increased their stakes during this reporting period.Analyst sentiment remains overwhelmingly bullish. With 39 Buy ratings and just one Hold recommendation issued over the past three months, the consensus stands at Strong Buy. The mean price target of $334.05 suggests approximately 25% appreciation potential from present trading levels.Mahaney’s updated $355 price objective exceeds the Street average, implying 33% upside potential from Friday’s opening price.The post Amazon (AMZN) Stock Surges 4% on Evercore Upgrade and Major AI Infrastructure Plans appeared first on Blockonomi.