Amazon Q1 2026: AWS Grows 28% to $37.6B (15-Quarter High), Plans Record $200B Capex

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Amazon beat Q1 estimates on April 29 with AWS revenue of $37.6B growing 28% — its fastest rate in 15 quarters — while total revenue reached $181.5B. Capital expenditures hit $44.2B for the quarter alone, with $200B planned for full-year 2026. Key AI commitments disclosed: OpenAI will consume ~2GW of Trainium capacity starting 2027, Anthropic secured up to 5GW of Trainium chips, and Meta signed for tens of millions of Graviton cores.