Amazon raises 2026 capex to about $220B from $200B on memory costs; AWS backlog hits $496B
On the July 30 earnings call, management raised its 2026 capital expenditure outlook to about $220 billion from about $200 billion, citing higher memory costs. CEO Andy Jassy said Amazon will not have enough capacity to meet its 2026 demand and expects the same in 2027. AWS customer commitments grew to $496 billion, a sign that backlog is building faster than capacity.
- 2026 capex: about $220B, up from about $200B
- Reason given: higher memory costs
- Jassy: not enough capacity for 2026 demand, same expected in 2027
- AWS backlog (customer agreements): $496B
- AWS annualized revenue run rate cited at $169B
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Moves this explains
AMD+16.68%Jul 29 · AMD rose 16.7% in an AI-infrastructure rally: Micron +22.8%, Intel +17.2%, Amazon +12.2%, TSMC +10.1%, Microsoft +5.6%, while Apple fell 8.0% after its June-quarter report. Amazon raised its 2026 capex to about $220B from $200B, and Microsoft's Azure grew 43%. The S&P 500 gained 1.5%.MU+22.79%Jul 29 · Micron rose 22.79% on July 30, a chip rebound after a multi-day rout: Intel +17.15%, AMD +16.68%, Amazon +12.18%, TSMC +10.1%, and Microsoft +5.59%. Coverage ties the rebound to Microsoft's results and also notes Amazon raising its 2026 capex on memory costs.QQQ+3.29%Jul 29 · QQQ rose 3.29% to 689.07 with S&P 500 +1.45%, in an earnings-heavy week. AMZN +12.18%, MSFT +5.59%, TSM +10.10% and chip names such as MU +22.79%, INTC +17.15% and AMD +16.68% led the gains, while AAPL fell 7.99%. Microsoft's Q4 FY26 and Amazon's capex raise are the nearby results behind the two largest gainers.TSM+10.10%Jul 29 · TSM rose 10.10% in an AI-infrastructure rally: MU +22.79%, INTC +17.15%, AMD +16.68%, AMZN +12.18%, ORCL +9.28% and MSFT +5.59%, with SPX +1.45%. The day followed Amazon's raised 2026 capex plan and Microsoft's Azure growth of 43%, both of which point to heavier AI data-center spending.AVGO+4.68%Jul 29 · Broadcom rose 4.68% on the AI-infrastructure read-through from big-tech earnings: Amazon +12.18% after it raised its 2026 capex to about $220B, and Microsoft +5.59% after Azure grew 43%. Micron (+22.79%), AMD (+16.68%) and TSMC (+10.10%) also rallied, with the S&P 500 +1.45%.Source
FortuneJul 30, 2026