On July 3, Grace Finance reported that a recent survey showed that Amazon's most important cloud computing department, Amazon Web Services (AWS), is accelerating its development. James Lee, an analyst at Grace, said the survey was conducted with a "leading" channel partner and showed that the sales cycle was accelerating. The survey showed that enterprise spending categories this year remained largely unchanged, continuing to shift toward infrastructure, which indicates a "strong" pipeline for workload migration and database upgrades. Generative artificial intelligence projects are approaching a "turning point," with external models set to be commercially deployed in six months. Lee therefore pointed out that spending on AWS this year is likely to increase, with year-on-year growth rising from the previous estimate of 20% to 22%, largely due to further improvements in core consumption and the end of cost optimization. Lee reiterated his "shareholding" rating on Amazon and a target price of $240.