Amazon 2025 shareholder letter: FY2026 capex ~$200B; AWS AI run rate >$15B

AMAZON COM INC

CEO outlines plans to spend ~$200B in capex in 2026, citing AI infrastructure and customer commitments.
AWS AI revenue run rate exceeds $15B in Q1 2026, with 24% YoY growth in Q4 2025 at $142B run rate.
Chips business (Graviton, Trainium, Nitro) annual run rate >$20B; if standalone, ~$50B; Trainium3 shipping.
Amazon now second-largest U.S. grocer with >$150B in gross sales in 2025; perishables via Same-Day growing 40x.
Prime Air drone delivery expects to serve 30M customers by year-end and deliver 500M packages by decade end.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.