Why did AMZN move on Jun 29, 2026?

Amazon's stock experienced a late-session pullback following reports that Anthropic renegotiated its deal with the company to charge based on tokens rather than compute hours, which could increase Amazon's technology costs [2], [3], [7]. In response to these rising costs, Amazon is reportedly evaluating other AI models to mitigate expenses [4], [7]. This development, first reported by The Information, introduced concerns over rising AI expenditures and pressured the stock downward from its intraday highs [2], [7], [9].