2026년 2월 6일 · Unknown · financial · 출처 Yahoo Finance
This article first appeared on GuruFocus.
Amazon.com (NASDAQ:AMZN) said it plans to spend $200 billion in capital expenditures, mostly on AWS, as demand for AI and cloud services accelerates through 2026.
The e-commerce and cloud giant reported fourth-quarter revenue of $213.4 billion, up 12% year over year, while operating income reached $25 billion. AWS revenue rose to $35.6 billion, lifting its annualized run rate to $142 billion.
Warning! GuruFocus has detected 3 Warning Sign with AMZN. Is AMZN fairly valued? Test your thesis with our free DCF calculator.
Chief Executive Andrew Jassy said customers continue to add AI workloads, including projects using Amazon's Trainium and Graviton chips. The company also outlined partnerships with OpenAI and several enterprise clients as it expands data-center capacity.
For the March quarter, Amazon forecast net sales of $173.5 billion to $178.5 billion and operating income of $16.5 billion to $21.5 billion. Chief Financial Officer Brian Olsavsky flagged about $1 billion in higher costs tied to its satellite program.
Amazon said AWS backlog climbed to $244 billion, up 40% year over year. Management expects the AI buildout and faster delivery to support longer-term growth.
What Does It Means For AWS?
By 2026, the approximately 200 billion capex initiative must enable AWS to expedite the provision of data-centres and dedicated AI chips, reduce customer service durations in the backlog, and monetise huge AI tasks with Trainium, Graviton, and managed AI services.By accelerating the conversion of the commitments into usage into revenues and the long-term operating margin of AWS, that scale-up has the potential to increase the revenue mix, as well as the operating income, over time, although the intensive spending would depress near-term margins and free cash flow as capacity is brought online.The performance of this investment will depend on execution, pricing and competition by Microsoft (MSFT) and Alphabet (GOOGL) will either bring AWS further within the frame of AI infrastructure or leave Amazon with more difficult questions about its margins were not received as well as expected in demand or monetization.
View Comments