AWS accelerates to +37% in Q2 2026, its fastest growth in 18 quarters

2026-07-30 · Publisher : Amazon · Domain : Cloud & DevOps

Amazon reports AWS revenue of $42.2 billion in Q2 2026, up 37%, with operating income of $16.6 billion. Andy Jassy cites the fastest growth in 18 quarters.

### Background On 30 July 2026, Amazon publishes its second-quarter results. The AWS segment posts revenue of $42.2 billion, up 37%, with operating income of $16.6 billion. Andy Jassy, Amazon's chief executive, describes AWS growth as "our fastest growth in 18 quarters", at 36.7% year on year. Three quarters earlier, in Q3 2025, AWS posted $33.0 billion with 20% growth. ### Key facts - AWS revenue: $42.2 billion (+37%); operating income: $16.6 billion. - Jassy says AWS's AI and chips businesses each exceed an annualized run rate of $25 billion. - Anthropic and OpenAI have made multi-year, multi-gigawatt commitments on Trainium chips, according to Jassy; Uber and Pinterest are among the customers quoted. - Purchases of property and equipment reach $173 billion gross over the last twelve months (about $169 billion net of proceeds, $66.1 billion more than a year earlier), mainly for AI. - Amazon: total net sales of $200.6 billion (+20%) and operating income of $27.5 billion (+43%). ### Why it matters The largest cloud provider sees its growth nearly double in nine months, showing that AI demand translates into infrastructure revenue at scale. For customers, the topic is compute capacity availability and price evolution. For the market, investment of $173 billion over twelve months raises the question of return on capital. The multi-year commitments of AI labs on in-house chips also show that customers concentrate their compute needs on a small number of providers. ### Takeaway AWS goes from +20% to +37% in three quarters: AI revives the growth of the cloud leader.

Tags : AWS, Hyperscaler, Cloud, Puces, IA