Amazon Q2 earnings: AWS grows at 37%, annualized AI revenue exceeds $2.5 billion

On July 30, 2026, Amazon released its Q2 financial report: AWS's net sales reached $42.2 billion, a year-on-year increase of 37%, marking the fastest growth rate in 18 quarters, with an annualized run rate of $169 billion. Both AWS's AI business and self-developed chip business have exceeded an annualized revenue of $2.5 billion, achieving triple-digit growth; the 2026 CapEx guidance has been raised to approximately $220 billion. Based on official investor relations materials and Andy Jassy's interpretation, this article sorts out the layout of Bedrock, Trainium/Inferentia/Graviton and the enlightenment of cloud-native AI infrastructure ROI for developers.