{
 "ticker": "AMZN",
 "name": "Amazon",
 "url": "https://grantbishop.pages.dev/index/AMZN",
 "sells": "Amazon runs online stores, an advertising business and Amazon Web Services, which rents out computing, storage and artificial intelligence services on demand.",
 "why": "We follow it because its business is AI itself.",
 "questions": [
  {
   "slug": "ai-itself",
   "question": "Whose business is AI itself?",
   "url": "https://grantbishop.pages.dev/index/q/ai-itself"
  }
 ],
 "tests": [
  {
   "id": "W-6",
   "claim": "Spending on the AI build is running ahead of the revenue it produces.",
   "url": "https://grantbishop.pages.dev/claims/ai-spending-ahead-of-revenue"
  }
 ],
 "reports_next": null,
 "latest_disclosed": {
  "form": "10-Q",
  "filed": "2026-07-31",
  "period": "2026-06-30",
  "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000026/amzn-20260630.htm"
 },
 "disclosed": [
  {
   "date": "2026-10-29",
   "figure": "$42.4 billion",
   "what": "Amazon trailing-twelve-month free cash flow outflow",
   "source": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000038/amzn-20260930xex991.htm"
  },
  {
   "date": "2026-10-29",
   "figure": "$94.8 billion",
   "what": "Amazon year-over-year increase in purchases of property and equipment (quoted)",
   "source": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000038/amzn-20260930xex991.htm"
  },
  {
   "date": "2026-10-29",
   "figure": "about $220 billion",
   "what": "Amazon 2026 cash capital expenditures expected to be approximately $220 billion",
   "source": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000038/amzn-20260930xex991.htm"
  },
  {
   "date": "2026-10-25",
   "figure": "about $200B",
   "what": "Amazon 2026 capex guidance from Q4 2025 release",
   "source": "https://ir.aboutamazon.com/news-release/news-release-details/2026/Amazon-com-Announces-Fourth-Quarter-Results/"
  },
  {
   "date": "2026-06-30",
   "figure": "$496B",
   "what": "Amazon commitments on contracts longer than one year, per Q2 10-Q",
   "source": "https://www.sec.gov/Archives/edgar/data/0001018724/000101872426000026/amzn-20260630.htm"
  },
  {
   "date": "2026-06-30",
   "figure": "-$7.6B",
   "what": "Amazon trailing-twelve-month free cash flow (negative)",
   "source": "https://ir.aboutamazon.com/news-release/news-release-details/2026/Amazon-com-Announces-Second-Quarter-Results/"
  },
  {
   "date": "2026-06-30",
   "figure": "$98.4bn",
   "what": "Amazon year-to-date purchases of property and equipment",
   "source": "https://ir.aboutamazon.com/news-release/news-release-details/2026/Amazon-com-Announces-Second-Quarter-Results/"
  },
  {
   "date": "2026-06-30",
   "figure": "$54.2bn",
   "what": "Amazon Q2 2026 purchases of property and equipment",
   "source": "https://ir.aboutamazon.com/news-release/news-release-details/2026/Amazon-com-Announces-Second-Quarter-Results/"
  },
  {
   "date": "2026-06-30",
   "figure": "$7.6bn",
   "what": "Amazon trailing-twelve-month free cash flow outflow attributed to AI investment",
   "source": "https://ir.aboutamazon.com/news-release/news-release-details/2026/Amazon-com-Announces-Second-Quarter-Results/"
  },
  {
   "date": "2026-03-31",
   "figure": "$364B",
   "what": "Amazon commitments on contracts longer than one year, per Q1 10-Q",
   "source": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000014/amzn-20260331.htm"
  },
  {
   "date": "2026-02-05",
   "figure": "$200bn",
   "what": "Amazon 2026 capex plan (about $200 billion) from February",
   "source": "https://ir.aboutamazon.com/news-release/news-release-details/2026/Amazon-com-Announces-Fourth-Quarter-Results/"
  }
 ],
 "check": "Revised after a check against the company's own annual filing.",
 "log": [
  {
   "date": "2026-10-19",
   "note": "Entry rewritten in plain words: what the company sells, and why we follow it."
  },
  {
   "date": "2026-10-12",
   "note": "Verified against the 10-Q filed 2026-07-31 at launch."
  }
 ],
 "living_report": {
  "report": false,
  "last_revised": null,
  "next_disclosure": null,
  "timeline": [
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    "filed": "2026-10-30",
    "period": "2026-09-30",
    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000040/amzn-20260930.htm",
    "what_it_said": null,
    "from_piece": null
   },
   {
    "form": "8-K",
    "filed": "2026-10-29",
    "period": "2026-10-29",
    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000038/amzn-20261029.htm",
    "what_it_said": null,
    "from_piece": null
   },
   {
    "form": "8-K",
    "filed": "2026-09-14",
    "period": "2026-09-14",
    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000110465926107526/tm2624614d5_8k.htm",
    "what_it_said": null,
    "from_piece": null
   },
   {
    "form": "8-K",
    "filed": "2026-09-09",
    "period": "2026-09-08",
    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000036/amzn-20260908.htm",
    "what_it_said": null,
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   },
   {
    "form": "10-Q",
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    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000026/amzn-20260630.htm",
    "what_it_said": null,
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   },
   {
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    "filed": "2026-07-30",
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    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000024/amzn-20260730.htm",
    "what_it_said": "Amazon reported on July 30 that Amazon Web Services (AWS), its cloud unit, had reached an annualised sales run-rate of $169B.",
    "from_piece": "https://grantbishop.pages.dev/pieces/google-cloud-revenue-keep-pace-with-514b-contracted"
   },
   {
    "form": "8-K",
    "filed": "2026-07-09",
    "period": "2026-07-09",
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    "what_it_said": null,
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   },
   {
    "form": "8-K",
    "filed": "2026-05-22",
    "period": "2026-05-20",
    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000110465926065717/tm2614288d1_8k.htm",
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   {
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   {
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    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872425000121/amzn-20251030.htm",
    "what_it_said": null,
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   {
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    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872425000086/amzn-20250630.htm",
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   {
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    "period": "2025-07-31",
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   {
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   {
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   {
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    "what_it_said": null,
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   }
  ],
  "history": []
 },
 "market": {
  "rule": "Each figure is kept only where Massive and Yahoo agree on it to the cent; a figure they do not agree on is null. Dated, not live. The market value and the forward multiple are computed from the close.",
  "last_close": {
   "value": 266.93,
   "currency": "USD",
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   "providers": [
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  "day_range": {
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   "high": 275.34,
   "currency": "USD",
   "as_of": "2026-11-09",
   "providers": [
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    "Yahoo"
   ]
  },
  "range_52_week": {
   "low": 196,
   "low_date": "2026-02-17",
   "high": 287.2,
   "high_date": "2026-08-03",
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   "currency": "USD",
   "as_of": "2026-11-09",
   "providers": [
    "Massive",
    "Yahoo"
   ]
  },
  "market_value": {
   "value": 2886351008021,
   "currency": "USD",
   "as_of": "2026-11-09",
   "computed": "the last close times the shares outstanding on the filing cover",
   "shares": {
    "count": 10813138306,
    "as_of": "2026-10-21",
    "form": "10-Q",
    "filed": "2026-10-30",
    "url": "https://www.sec.gov/Archives/edgar/data/1018724/000101872426000040/"
   }
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  "forward_multiple": null,
  "checked_at": "2026-11-10 23:30:40"
 },
 "exhibits": null,
 "mentions": [
  {
   "date": "2026-10-31",
   "slug": "worst-week-technology-shares-since-june",
   "headline": "Technology's bad week fell on the spenders, not the builders",
   "url": "https://grantbishop.pages.dev/pieces/worst-week-technology-shares-since-june",
   "line": null,
   "idea": {
    "id": "W-6",
    "text": null,
    "url": "https://grantbishop.pages.dev/claims/ai-spending-ahead-of-revenue"
   }
  },
  {
   "date": "2026-10-25",
   "slug": "google-cloud-revenue-keep-pace-with-514b-contracted",
   "headline": "Is Google Cloud revenue keeping pace with its backlog, and which spending range is really Alphabet's?",
   "url": "https://grantbishop.pages.dev/pieces/google-cloud-revenue-keep-pace-with-514b-contracted",
   "line": null,
   "idea": {
    "id": "W-6",
    "text": null,
    "url": "https://grantbishop.pages.dev/claims/ai-spending-ahead-of-revenue"
   }
  },
  {
   "date": "2026-10-22",
   "slug": "test-week-must-fed-statement-largest-ai-spenders",
   "headline": "Can the last week of October confirm the frame, or only break it?",
   "url": "https://grantbishop.pages.dev/pieces/test-week-must-fed-statement-largest-ai-spenders",
   "line": null,
   "idea": {
    "id": "W-5",
    "text": null,
    "url": "https://grantbishop.pages.dev/claims/fed-keeps-raising-into-inflation"
   }
  }
 ],
 "note": "Prices on this page are dated market records, shown free during the preview, each confirmed by two independent data providers. None is a recommendation.",
 "license": "Free to cite with a link."
}