Amazon’s cloud unit posted the strongest growth rate in almost three years, reassuring investors who were concerned that the largest seller of rented computing power was losing ground to rivals.  Amazon Web Services posted revenue of $33 billion, an increase of 20% from the prior year and the biggest year-over-year rise since the end of 2022. Analysts, on average, estimated 18% growth.  Investor expectations for the cloud business were relatively low heading into Thursday’s report after the company in recent quarters cited constraints in getting new data centers online. Chief Executive Officer Andy Jassy and other executives had said they were optimistic about the business, though they stopped short of forecasting a reacceleration of growth. Bloomberg Intelligence Senior Analyst for E-Comm

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