Amazon.com Inc. is navigating another senior exit from its Annapurna Labs chip division, raising questions about leadership continuity as it scales its Trainium AI chips to compete with Nvidia Corp..

Gadi Hutt, director of product and customer engineering, has left Annapurna Labs, according to The Information, citing people familiar with the matter.

Hutt was among the early team members at Annapurna Labs, the Israeli semiconductor startup that Amazon acquired in 2015 for about $350 million.

Don't Miss:

Think your retirement plan is on track? Click here to see how it stacks up against the numbers most Americans are missing

This Energy Storage Company Already Has $185M in Contracts—Shares Are Still Available

Hutt's exit marks the second senior leadership departure from Annapurna Labs in the past seven months, the report added. Rami Sinno, another top executive, left the company in August to join Arm Holdings plc, according to the report.

Amazon is trading 2% below its 20-day SMA and 8.4% below its 100-day SMA, keeping the stock in a technically defensive posture across multiple timeframes.

Shares are up 3.07% over the past 12 months and are currently closer to their 52-week lows than to their highs, trading in the $161.38 to $258.60 range.

The RSI is at 44.57, which sits in neutral territory but still reflects softer momentum than a typical uptrend. Meanwhile, MACD is at -1.9862, while the signal line is at -2.2371, a bullish configuration that suggests downside pressure is easing even though the trend remains heavy.

RSI in the 30–50 range with bullish MACD indicates momentum leaning bullish.

Key Resistance: $220.50

Key Support: $202.50

Trending: This Startup Thinks It Can Reinvent the Wheel — Literally

Looking further out, the next major catalyst for the stock arrives with the April 30, 2026 (estimated) earnings report.

EPS Estimate: $1.66 (Up from $1.59 YoY)

Revenue Estimate: $177.20 Billion (Up from $155.70 Billion YoY)

Valuation: P/E of 28.9x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $287.24. Recent analyst moves include:

Tigress Financial: Buy (Raises Target to $315.00) (March 25)

JP Morgan: Overweight (Raises Target to $280.00) (March 25)

Citigroup: Buy (Raises Target to $285.00) (March 25)

First Trust Dow Jones Internet Index Fund (NYSE:FDN): 9.89% Weight

iShares Global Consumer Discretionary ETF (NYSE:RXI): 9.61% Weight

Dana Unconstrained Equity ETF (NYSE:DUNK): 9.10% Weight

Significance: Because AMZN carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

Read Next: 

1.5 Million Users Are Already Working Inside This AI Platform — Investors Can Still Get In

It’s no wonder Jeff Bezos holds over $250 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here’s how everyday investors are getting started.

Photo via Shutterstock

Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.

Get the latest stock analysis from Benzinga:

APPLE (AAPL): Free Stock Analysis Report

TESLA (TSLA): Free Stock Analysis Report

This article Amazon Chip Division Hit By Second Senior Exit In Months originally appeared on Benzinga.com