In the fast-moving artificial intelligence race, thriving sometimes isn’t good enough.

That is what Amazon AMZN -3.23%decrease; red down pointing triangle has learned this year, with investors reluctant to reward it for what many saw as underwhelming growth in its cloud-computing business. Amazon’s stock had risen about 1% this year as of Thursday’s close, lagging far behind its Big Tech peers and the S&P 500, which is up about 16%.

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