Amazon raised its 2026 capital spending forecast to $220B, up from the $200B it guided to in February, with CEO Andy Jassy attributing the increase to rising memory prices. Jassy said even that amount leaves the company short of the capacity it needs to meet demand this year and expects the same in 2027, with AWS holding $496B in signed work it hasn't delivered. AWS revenue grew 37% to $42.2B in the second quarter, the unit's fastest expansion since 2021, while capital expenditures reached $54.2B against $32.1B a year earlier.
