Amazon.com, Inc. (AMZN)[Tv]

Key Developments

• Amazon reports historic Q2 2026 earnings beat with $200.6 billion in revenue and $42.2 billion in AWS revenue—up 37% YoY—driven by explosive generative AI demand and record pre-committed customer capacity of $496 billion.
• Amazon revises its 2026 capital expenditure forecast upward to $220 billion, signaling an aggressive, sustained buildout of AI infrastructure, data centers, custom chips, and satellite networks.
• Amazon’s $13 billion stake in Anthropic surges in value to $190.4 billion, with potential to exceed $250 billion if Anthropic goes public, transforming Amazon into a hidden generative AI powerhouse.
• The U.S. Senate launches a formal investigation into alleged Chinese influence on Amazon’s third-party marketplace, introducing a high-stakes reputational and regulatory overhang.
• Amazon’s free cash flow plunges to a record $7.6 billion outflow—its first negative FCF in over a decade—despite robust revenue and operating cash flow, raising urgent questions about the sustainability of its capex-driven growth model.