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Amazon

AMZN

Amazon runs online stores, an advertising business and Amazon Web Services, which rents out computing, storage and artificial intelligence services on demand. We follow it because its business is AI itself.

Revised after a check against the company's own annual filing. · entry updated 2026-10-19

Ticker: AMZN
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Last refreshed from 10-Q filed 31 Jul 2026 (EDGAR)

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The living report

Bears on our standing view that spending on the AI build is running ahead of its revenue. It is proved wrong if cloud revenue keeps pace with contracted backlog through the next two rounds of reports, and no other big buyer starts renting out spare capacity.

last revised 19 Oct 2026 · next scheduled disclosure not yet announced

The full report

Members: queues this company for a report on a coming night.

The market record

Free during the preview. Each figure shows only where two independent data providers, Massive and Yahoo, agree on it to the cent; a figure they do not agree on is left out. Dated, not live. It describes; it does not recommend.

Last close$259.30
close of 6 Nov 2026 · Massive and Yahoo agree

The day's range$258.53 – $264.18
6 Nov 2026 · both providers agree

52-week range$196.00 – $287.20
intraday low 17 Feb 2026 · intraday high 3 Aug 2026 · 251 sessions to 6 Nov 2026 · both providers agree

Market value$2.80 trillion
the 6 Nov 2026 close × 10,813,138,306 shares outstanding on the 10-Q cover, as of 21 Oct 2026

Filings

Newest first, from EDGAR. Where a piece read a filing, one line of what it said.

30 Oct 202610-Q · period ending 30 Sep 2026

29 Oct 20268-K · period ending 29 Oct 2026

14 Sep 20268-K · period ending 14 Sep 2026

9 Sep 20268-K · period ending 8 Sep 2026

31 Jul 202610-Q · period ending 30 Jun 2026

30 Jul 20268-K · period ending 30 Jul 2026
Amazon reported on July 30 that Amazon Web Services (AWS), its cloud unit, had reached an annualised sales run-rate of $169B. the piece

9 Jul 20268-K · period ending 9 Jul 2026

12 Jun 20268-K · period ending 12 Jun 2026

10 Jun 20268-K · period ending 8 Jun 2026

22 May 20268-K · period ending 20 May 2026

30 Apr 202610-Q · period ending 31 Mar 2026

29 Apr 20268-K · period ending 29 Apr 2026

14 Apr 20268-K · period ending 14 Apr 2026

9 Apr 20268-K · period ending 9 Apr 2026

16 Mar 20268-K · period ending 16 Mar 2026

13 Mar 20268-K · period ending 13 Mar 2026

27 Feb 20268-K · period ending 27 Feb 2026

6 Feb 202610-K · period ending 31 Dec 2025

5 Feb 20268-K · period ending 5 Feb 2026

20 Nov 20258-K · period ending 20 Nov 2025

31 Oct 202510-Q · period ending 30 Sep 2025

30 Oct 20258-K · period ending 30 Oct 2025

1 Aug 202510-Q · period ending 30 Jun 2025

31 Jul 20258-K · period ending 31 Jul 2025

22 May 20258-K · period ending 21 May 2025

2 May 202510-Q · period ending 31 Mar 2025

1 May 20258-K · period ending 1 May 2025

10 Apr 20258-K · period ending 10 Apr 2025

7 Feb 202510-K · period ending 31 Dec 2024

6 Feb 20258-K · period ending 6 Feb 2025

Where it sits in the frame

AI compute is now two businesses

AI compute has split into a rented market and a government-funded one.

Tested by

Spending on the AI build is running ahead of its revenue OPEN

Reports next

not yet announced

Latest disclosed

10-Q · filed 2026-07-31 · period ending 2026-06-30

Read the filing

Machine-readable

/index/AMZN.json

What it has disclosed

Newest first. Every figure traces to a filing; "Show sources" shows which.

29 Oct 2026Amazon trailing-twelve-month free cash flow outflow: $42.4 billion

29 Oct 2026Amazon year-over-year increase in purchases of property and equipment (quoted): $94.8 billion (year-over-year increase in purchases of property and equipment)

29 Oct 2026Amazon 2026 cash capital expenditures expected to be approximately $220 billion: about $220 billion

25 Oct 2026Amazon 2026 capex guidance from Q4 2025 release: about $200B

30 Jun 2026Amazon commitments on contracts longer than one year, per Q2 10-Q: $496B (vs about $364B at end of March)

30 Jun 2026Amazon trailing-twelve-month free cash flow (negative): -$7.6B (trailing-twelve-month free cash flow)

30 Jun 2026Amazon year-to-date purchases of property and equipment: $98.4bn

30 Jun 2026Amazon Q2 2026 purchases of property and equipment: $54.2bn (vs $32.2bn a year earlier)

30 Jun 2026Amazon trailing-twelve-month free cash flow outflow attributed to AI investment: $7.6bn (trailing-twelve-month free cash flow outflow)

31 Mar 2026Amazon commitments on contracts longer than one year, per Q1 10-Q: $364B (Amazon commitments at end of March)

5 Feb 2026Amazon 2026 capex plan (about $200 billion) from February: $200bn

Mentioned in

Every piece that names this company, newest first: what it said, and the standing view it bore on. Written when the piece is committed; never edited, never removed.

31 Oct 2026Technology's bad week fell on the spenders, not the builders
Bears on our standing view that spending on the AI build is running ahead of its revenue.

25 Oct 2026Is Google Cloud revenue keeping pace with its backlog, and which spending range is really Alphabet's?
Bears on our standing view that spending on the AI build is running ahead of its revenue.

22 Oct 2026Can the last week of October confirm the frame, or only break it?
Bears on our standing view that the Fed under Warsh keeps raising rates into this inflation.

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This entry

19 Oct 2026Entry rewritten in plain words: what the company sells, and why we follow it.

12 Oct 2026Verified against the 10-Q filed 2026-07-31 at launch.

Prices on this page are dated market records, shown free during the preview, each confirmed by two independent data providers. None is a recommendation.

Record

Written according to the Grant Bishop standard — machine-researched, machine-checked, human-judged; then read and committed by the publisher. Every number traces to a filing or a dated market record; every claim carries a date and what would prove it wrong.

Verification: multi-source verified, machine-drafted, human-gated
As of: 2026-07-31
Bears on: Spending on the AI build is running ahead of its revenue
Position disclosure: The publisher holds index-level U.S. equity exposure and no direct position in any single name discussed.
Not advice: General commentary for a general audience. Not advice for your situation.

Sources (12)

110-Q, filed 30 Oct 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000101872426000040/amzn-20260930.htm

28-K, filed 29 Oct 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000101872426000038/amzn-20261029.htm

38-K, filed 14 Sep 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000110465926107526/tm2624614d5_8k.htm

48-K, filed 9 Sep 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000101872426000036/amzn-20260908.htm

510-Q, filed 31 Jul 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000101872426000026/amzn-20260630.htm

68-K, filed 30 Jul 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000101872426000024/amzn-20260730.htm

78-K, filed 9 Jul 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000110465926082293/tm2619352d4_8k.htm

88-K, filed 12 Jun 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000110465926073562/tm2613616d5_8k.htm

98-K, filed 10 Jun 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000110465926072140/tm2613616d4_8k.htm

108-K, filed 22 May 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000110465926065717/tm2614288d1_8k.htm

1110-Q, filed 30 Apr 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000101872426000014/amzn-20260331.htm

128-K, filed 29 Apr 2026, SEC EDGAR — https://www.sec.gov/Archives/edgar/data/1018724/000101872426000012/amzn-20260429.htm

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