Amazon Boosts AI Spending

Amazon said it will raise this year’s capital spending by about $20 billion, to roughly $220 billion, as it expands AI infrastructure and other technology. For the second quarter ended June 30, the company reported $200.6 billion in revenue, up 20% from a year earlier and about $3.5 billion above analyst forecasts. AWS revenue rose 37% to $42.23 billion, its fastest growth in 18 quarters, driven by AI and chip demand. Shares rose more than 10% after hours as CEO Andy Jassy said demand still exceeds capacity.