By Aditya Soni and Kanchana Chakravarty (Reuters) -Amazon.com shares fell about 7% on Friday as the tech giant's results fanned investor fears its cloud unit was falling behind Microsoft and Alphabet in the artificial intelligence race.

The e-commerce giant’s quarterly sales results beat expectations, but shares dropped 7% because its cloud computing arm’s growth wasn’t as strong as rivals’.

The tech giant expects total net sales to be between $174.0 billion and $179.5 billion in the third quarter, compared with analysts’ average estimate of $173.08 billion.