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

Key Developments

• Amazon’s AWS revenue surges 37% YoY, the fastest in 18 quarters, fueled by a $496 billion AI infrastructure backlog locked in over five-year terms—confirming sustained, pre-validated demand and cementing AWS as the central nervous system of the global AI economy.
• Peter Thiel’s $118 million bet on Amazon, making it the largest holding in his new fund, signals a high-conviction institutional endorsement of AMZN as the cornerstone of the AI infrastructure revolution—though risk remains tied to flawless execution and margin sustainability.
• Amazon commits to deploying 2 million Nvidia GPUs—Blackwell Ultra, Rubin, and Rubin Ultra—across AWS by 2028, marking a strategic pivot toward full-stack AI dominance and deepening its alliance with Nvidia through custom Trainium 4 chip integration and a $100 billion deal.
• The FTC, joined by 22 states, files a sweeping bipartisan lawsuit accusing Amazon of manipulating its ad auction system for over seven years, allegedly inflating prices by up to 50% and extracting $20+ billion in excess revenue—threatening its most profitable $68.6 billion revenue stream.
• The U.S. Justice Department expands its antitrust probe into the meatpacking industry to include Amazon, demanding six years of pricing, procurement, and margin data—marking a significant escalation in scrutiny over Amazon Fresh and Whole Foods’ influence on food inflation.