Amazon CEO Andy Jassy said AWS could become a $1 trillion annual revenue business within the next decade. He cited businesses’ continued migration to the cloud as a key driver.
AWS revenue rose 39% year over year in its latest quarterly report. This marked its sixth consecutive quarter of accelerating growth.
Amazon forecasts about $220 billion in capital expenditures in 2026 and plans a meaningful increase in 2027, primarily to support AWS infrastructure. The spending is expected to pressure free cash flow in the short term.
AWS’s sustained profitability and high operating margins are seen as helping fund the expansion.