Amazon’s stock is soaring after a massive AWS earnings beat, fueled by explosive AI-driven growth. Their custom AI chips are outpacing rivals, powering $25B in annual chip revenue, while AWS hit $42.2B in Q2 revenue — up 37% YoY — with demand so high it’s backed by a $500B order backlog. CEO Andy Jassy now forecasts AWS could hit $1T annually, driving Amazon to spend $220B on new data centers alone in 2026. While profits partly stem from Anthropic investments — which may slow next year — the long-term AI momentum makes this a compelling bet.

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