Amazon to Spend Billions More Than Expected on AI Data Centers

Watch on YouTube ↗  |  February 05, 2026 at 21:35  |  2:14  |  Bloomberg Markets
Speakers
Poonam Goyal — Senior Retail Analyst, Bloomberg Intelligence

Summary

Bloomberg Intelligence's Poonam Goyal reviews Amazon's latest quarterly results, noting largely in-line performance with an AWS growth beat and continued retail share gains. She highlights Amazon's 2026 CapEx guidance of about $200 billion, a step up from 2025 and above street expectations, and says the incremental spending is likely AI/AWS-focused. Goyal views the continued investment positively and expects AWS growth to remain steady rather than exponential.

  • Amazon Q4 results were largely in line with expectations.
  • AWS revenue growth came in at 24% versus 21% expected.
  • Amazon guided to roughly $200 billion in 2026 CapEx, above street expectations.
  • Incremental CapEx is expected to focus on AI and AWS.
  • Amazon retail saw 10% online sales growth and continued market share gains.
  • Goyal views the quarter positively and sees AWS as a steady-growth story.
  • Investors are awaiting more detail on spending returns.
Ideas
Poonam Goyal Senior Retail Analyst, Bloomberg Intelligence 0:13
Amazon quarter good; AWS, retail solid.
Amazon's quarter was largely in line but showed positive underlying signals: AWS revenue growth came in ahead at 24% versus 21% expected, 2026 CapEx guidance of about $200 billion is a step up from 2025 and above street expectations, the incremental spend is expected to go toward AI and AWS, and the retail side showed 10% online sales growth with continued market share gains. She views the continued investment as a positive sign and characterizes AWS as a steady-growth story rather than an exponential one.
AMZN HIGH
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This Bloomberg Markets video, published February 05, 2026, features Poonam Goyal discussing AMZN. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Poonam Goyal  · Tickers: AMZN