AWS will be a $1T business, Jassy says — but first, it will spend big

On Amazon's quarterly earnings call, CEO Andy Jassy repeated his belief that AWS can become a trillion-dollar annual revenue business within five to 10 years, and said AWS can grow north of 40% in both 2027 and 2028. He said Amazon still expects about $220 billion in 2026 cash capex, mostly for AWS, with meaningfully more in 2027, as investors pressed him on the spending and shares fell about 6% in after-market trading. AWS revenue rose 39% year over year, a sixth straight quarter of steady growth, and Jassy called the AI boom a once-in-a-lifetime opportunity worth investing in to stay the leader.