Amazon.com Inc. shares have largely climbed on the back of two trends: strength in its cloud business and a focus on costs. Now both could be in question.

Amazon (AMZN) will likely be under pressure to deliver strong cloud computing results in its fourth-quarter earnings report after lackluster

The pressure is on Amazon.com to deliver on lofty expectations for cloud computing in its fourth-quarter results on Thursday, after Microsoft and Google's lackluster reports jolted investor faith in Big Tech's billion-dollar investments in AI.