Big Tech's AI Bill Nears $750 Billion
Big Tech is on track for $750 billion in capex as developers bet AI demand outruns costs, while some AI developers have yet to profit.
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Amazon operates commerce and technology businesses, including Amazon Web Services. Coverage follows AWS, Bedrock, AI infrastructure and the company’s use of AI.
Reviewed 19 October 2026. Dates retain the precision of the source; retrospective disclosures are identified in the event. AWS AI and chips run rates may overlap; they are not added to each other or to AWS revenue.
Revenue, funding, product launches and major company events, newest first. Expand the earlier milestones for more history.
AWS grows 37% year over year, equivalent to a $169B annualized run rate. Amazon total quarterly sales are $200.6B.
Source: AmazonAmazon separately reports AI and chips businesses each above $25B annualized. These overlapping business measures are not summed as incremental revenue.
Source: AmazonEarlier revenue, financing and company milestones.
The 2024 results document 19% AWS growth before the subsequent acceleration in AI infrastructure demand.
Source: AmazonAmazon commits an additional $4B and becomes Anthropic’s primary cloud and training partner; the investment is distinct from AWS customer sales.
Source: Anthropic / AmazonManaged access to foundation models adds a commercial generative-AI layer to AWS infrastructure.
Source: AmazonThe annual report separates AWS from North America and International, making the cloud business’s performance visible in financial reporting.
Source: Amazon / SECThe voice-assistant platform begins with a limited set of functions before expanding through speech technology, skills and later generative AI.
Source: Amazon retrospectiveThe storage service helps establish AWS’s infrastructure-as-a-service business, preceding its later AI platforms.
Source: AmazonThe company expands from online retail into marketplaces, logistics, devices and cloud computing.
Source: AmazonBriefs, articles and relevant sections, newest first. Explore older coverage below.
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Big Tech is on track for $750 billion in capex as developers bet AI demand outruns costs, while some AI developers have yet to profit.
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