Amazon AWS Reports 39% YoY Growth in Q3, Commits $220B Capex for AI Infrastructure

Amazon reported Q3 revenue of $201.9 billion, with Amazon Web Services (AWS) revenue increasing 39% year-over-year to $45.98 billion, surpassing the $45.29 billion consensus and marking its fastest growth in nearly five years. AWS operating income reached $17.8 billion at a record 13.9% margin. CEO Andy Jassy anticipates over 40% AWS growth in both 2027 and 2028, with Amazon maintaining approximately $220 billion in 2026 capital expenditure to support AI buildouts.