Wall Street loved what it saw from Amazon this week. Yes, despite the layoffs.

Amazon CEO Andy Jassy said that even without counting Whole Foods — the high-end grocery store chain it bought in 2017 — and Amazon Fresh, the company's grocery business put up more than $100 billion of gross merchandising sales over the last 12 months.

As Amazon’s wave of corporate layoffs starts to ripple across the country — including with 1,403 job cuts in California — CEO Andy Jassy took an opportunity to defend the move on Thursday.  During the company’s quarterly earnings call,

Amazon's cloud business knocked it out of the park and CEO Andy Jassy hinted that the unit is gaining momentum heading into the next few months giving him 'significant confidence' he said.

Nvidia stockNVDA was rising on Friday after AmazonAMZN confirmed its capital expenditure plans and delivered robust quarterly earnings. Nvidia this week became the first company to reach $5 trillion in market capitalization.

The domination of e-commerce is inevitable and will only come faster thanks to the emerging technology, even if physical stores represent opportunity for now, Andy Jassy told analysts Thursday.

Amazon (AMZN) shares continued to gain ground in late trading on Thursday with the company’s earnings call highlighting the advancements in its cloud computing segment, new features on its ecommerce site,

During Amazon's earnings call, Chief Executive Andy Jassy said the e-commerce giant was committed to "meeting or beating prices of other major retailers," as shoppers grapple with higher costs of living and concerns about tariffs.