Key takeaways

  • CEO Andy Jassy says Amazon could run two trillion-dollar businesses within a decade.
  • Newer bets are moving, too: Amazon Pharmacy customers are up more than 60%, Amazon Leo internet satellites are on track to start service this year, and Zoox robotaxis now give paid rides in Las Vegas.
  • Amazon expects to spend about $220 billion this year, mostly on AI and data centers, and Jassy said 2027 spending will be "meaningfully more.

Amazon Web Services grew 39% last quarter, its fastest pace in nearly five years. Amazon expects more than 40% growth in both 2027 and 2028.

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