Amazon · Crypto Briefing
Amazon swings to $42.4 billion free cash outflow as AI spending rallies
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AWS posted its fastest growth in nearly five years, but investors focused on the bill for building it.
Key facts
- The swing from a $14.8 billion free cash inflow to a $42.4 billion outflow in a single year shows how dramatically the AI buildout has changed that math
- Operating cash flow, the cash produced by Amazon’s day-to-day activities, rose 29% to $168.3 billion over the trailing twelve months
- The company maintained its capital expenditure guidance at an estimated $220 billion for 2026
- First, whether Amazon holds to roughly $220 billion in capital expenditures for 2026 or adjusts that figure
Summary
Amazon showed that a business can grow fast and still worry its shareholders. A year earlier, that same measure was an inflow of $14.8 billion. Shares closed down 4.3% on October 29, the day Amazon released its third-quarter results. Start with the good news, because there was plenty of it.