AMZN · 10-Q · 2026Q2 · Full report
AI Infrastructure and Technology
AMAZON COM INC · 2026-07-31 · Importance 79 · Surprise 66 · From source text
Amazon continues investing in technology infrastructure to support AWS growth, artificial intelligence and machine learning initiatives, online stores, electronic devices, satellite broadband, and autonomous ride-hailing vehicles. Technology and infrastructure spending increased primarily because of additional infrastructure investment and depreciation, with AWS representing the primary beneficiary of technology infrastructure capital expenditures. The company expects technology and infrastructure spending to increase over time as it adds infrastructure and employees for AI and machine-learning initiatives, while satellite-network costs remain largely expensed until commercial viability is achieved.
Key facts
- Technology and infrastructure costs were $27,166 million for Q2 2025 and $33,158 million for Q2 2026; $50,160 million and $62,725 million for the six months ended June 30, 2025 and 2026. source
- Technology and infrastructure costs in Q2 2026 include net unrealized gains for energy contracts that are subject to derivative accounting, primarily related to AWS. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -6.3% | Technology and infrastructure costs were $27,166 million for Q2 2025 and $33,158 million for Q2 2026; $50,160 million and $62,725 million… |
| operating_income | negative | realized | -3.0% | Technology and infrastructure costs were $27,166 million for Q2 2025 and $33,158 million for Q2 2026; $50,160 million and $62,725 million… |