Amazon hikes 2026 capex to $220 billion due to higher memory costs

Amazon reported robust results for the second quarter, driven by strong performance in its cloud division and artificial intelligence initiatives. The company’s cloud segment experienced significant expansion, with revenue climbing 37% compared to the same period the previous year, marking the unit’s fastest growth rate since 2021. This performance exceeded Wall Street expectations of 31% growth and reflected substantial demand for the company’s cloud services and AI capabilit