Amazon reiterates a Buy rating as AI infrastructure capex rises to $220B by 2026, underpinned by robust contractual demand. Anthropic and OpenAI have committed over $225B in multi-year AWS and Trainium capacity, reducing utilization risk and supporting the investment thesis. AWS delivered 37% YoY revenue growth in Q2 with a 39.4% operating margin, demonstrating strong profitability amid heavy reinvestment.
Read on seekingalpha.com