Amazon.com, Inc.

Combined Graviton and Trainium chips business well over $10 billion annualized revenue run rate growing triple-digit percentages year over year. Trainium2 has 1.4 million chips landed the fastest ramping chip launch ever with 100,000 plus companies using it. Trainium2 is majority underpinning of Bedrock usage. Trainium3 just started shipping with 40% more price performance than Trainium2 and expected nearly all supply committed by mid-2026. Trainium4 coming in 2027 with conversations about Trainium5 already underway.

Advertising revenue $21.3 billion growing 22% year over year with over $12 billion of incremental revenue added in 2025. Prime Video ads now available in 16 countries with 315 million global ad-supported viewers up from 200 million in early 2024. Ads agent announced letting brands use AI to create and optimize campaigns at scale. Creative agent transforms weeks-long campaign creation process into hours.

Expects to invest about $200 billion in capital expenditures predominantly in AWS because of very high demand. Full year 2025 operating cash flow $139.5 billion up 20% year over year. Trailing twelve-month free cash flow $11.2 billion. Capacity being monetized as fast as installed. Capacity expected to double again by 2027 from already doubling since 2022. Q1 2026 guidance includes approximately $1 billion year over year cost increase from Amazon LEO with most LEO costs to be capitalized later in 2026.

Amazon became go-to grocery destination for over 150 million Americans with over $150 billion in gross sales. Perishables delivered same day in more than 2,300 U.S. cities and towns with customers shopping twice as often after using service. Amazon Now ultrafast delivery launched in India Mexico and UAE delivering in about thirty minutes with customers in India tripling shopping frequency. Whole Foods plans to open more than 100 new stores over next few years. Everyday essentials one out of three units sold growing nearly twice as fast as other categories.

More than 300 million customers used Rufus in 2025 with customers 60% more likely to complete a purchase. Rufus can now research products track prices auto buy and shop tens of millions of items in other online stores via Buy for Me. Amazon Lens visual search usage up 45% year over year. Add to delivery feature makes up about 10% of all Prime volume fulfilled through Amazon network each week just six months after launch. NovaForge launched letting enterprises pre-train customized Nova models with their own data.