Amazon reaffirms ~$220B 2026 capex, sees AWS growth above 40% in 2027-28

Amazon reaffirmed its ~$220B 2026 cash capex plan, with CEO Andy Jassy saying capex will rise 'meaningfully more' in 2027. AWS backlog is $578B, growing triple digits year over year, and Trainium chip demand is so strong Amazon intends to make it available outside AWS late in 2027. Amazon expects AWS revenue growth above 40% in 2027 and 2028.

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