Amazon increased its expected 2026 capital spending from $200 billion to $220 billion after a strong second quarter. The company said AWS demand exceeds available capacity even after an extraordinary investment increase. AWS sales grew 37% in the April-June quarter, up from 28% growth in the prior quarter and the fastest rate in 18 quarters.
Amazon’s revised $220 billion capital plan includes artificial intelligence, semiconductors, robots and satellite projects. The new plan is $20 billion above the February forecast and far above the $128 billion Amazon spent in 2025. Alphabet also raised its capital forecast after rapid cloud growth, while investors have focused on cash flow and utilization across the AI industry.
Chief executive Andy Jassy said higher memory-chip prices were the main reason for the increase. Amazon said demand still exceeds the capacity it expects to deploy this year and that advance demand for 2028 is substantial. Amazon signed major AI-related agreements with OpenAI, Anthropic and Meta in April.
Quarterly net income was $62.65 billion and net sales rose to $200.6 billion from $167.7 billion a year earlier. The capital total covers more than generative AI, so it cannot be treated as a pure model-training budget.
The evidentiary boundary at publication is specific: The spending plan is prospective, category-level allocation is not fully disclosed and current cloud demand does not guarantee future investment returns. The current account therefore distinguishes completed events from announced, proposed or still-contested steps. Statements by governments, companies, litigants and advocacy organizations establish what those parties said; they are not treated as independent proof of every underlying assertion. Numerical values describe the source period and category identified in the reporting and may be revised by the responsible institution.
The next public records expected to update this account are quarterly capital expenditures and free cash flow and AWS utilization, pricing and data-center delivery schedules. Until those records appear, the dates, totals, procedural posture and attributed descriptions above are the latest checked account for the July 31 edition. A later filing, official release, verified field report or corrected dataset could change a total or timetable without erasing the documented sequence at this cutoff.