In his annual shareholder letter published April 9, Amazon CEO Andy Jassy disclosed that AWS AI services crossed $15 billion in annualized revenue in Q1 2026 — roughly 260 times the total AWS run rate at the same point in the cloud business's history. Jassy simultaneously defended the company's planned $200 billion 2026 capital expenditure on AI infrastructure, noting the majority is already underpinned by customer commitments. He also revealed Amazon's custom chip business (Graviton, Trainium, Nitro) reached a $20 billion annualized run rate with triple-digit year-over-year growth, and floated the possibility of selling custom chip racks externally.