From the question of where Amazon is in the AI race to forecasts for the next quarter, here are four key takeaways from the Q2 earnings call.

Looking at specific segments, Amazon says North America sales increased 11% year-over-year to $100.1 billion; international revenue rose 16% to $36.8 billion (or increased 11% excluding changes in foreign exchange rates); and AWS (Amazon Web Services) sales jumped 17.5% to $30.9 billion.

Google parent Alphabet offered up its own strong results, noting cloud revenue climbed 32% and backlog, or purchase commitments from customers not yet realized, rose 38%. Search also performed better than expected during the quarter, with sales increasing 12% year over year.