Friday, 31 July, 2026
Amazon’s $220B AI Bet: Cloud Surge Drives Massive Tech Spending Spree
By TechShots Studio
Fueled by a stellar Q2 with AWS cloud revenue surging 37%, Amazon is boosting its tech capital expenditure by $20 billion, raising this year's total budget to $220 billion. Driven by soaring AI demand and higher memory chip costs, the company delivered $62.65 billion in net income, sending shares up over 9% after-hours.
Read full story at CIO ECONOMIC TIMES