MoneyJuly 29, 2026via GeekWire
Amazon earnings preview: Wall Street looks for more cloud growth as AI spending hits a record
Why it matters
Amazon's Q2 earnings will reveal whether massive AI infrastructure investment is translating to AWS growth and investor confidence, or if the capex bet is outrunning returns.
Key signals
- Amazon capital spending on pace for record $200B in 2026
- Q2 earnings Thursday afternoon
- AWS growth expected to accelerate
- Central investor question: patience for AI spending bet
- Published July 29, 2026
The hook
$200B. That's Amazon's AI capital spending pace for 2026 — and Wall Street is watching whether the ROI narrative holds.
Amazon reports second-quarter results Thursday afternoon, with AWS growth expected to accelerate and capital spending on pace for a record $200 billion this year. The big question: How much patience do investors have left for the company's bet on AI?