AWS growth climbs to 28% as Amazon’s big AI bets start to pay off

by Todd Bishop on Apr 29, 2026 at 1:58 pmApril 29, 2026 at 2:21 pm

Amazon Web Services growth accelerated to 28% in the first quarter — its fastest pace in nearly four years — pushing Amazon’s results past Wall Street’s expectations and validating, at least for now, the company’s controversial $200 billion bet on artificial intelligence infrastructure.

Overall, Amazon posted sales of $181.5 billion, up 17%, and operating income of $23.9 billion, up 30%. Both topped guidance and exceeded Wall Street’s expectations of about $177 billion in revenue.

Profits were $30.3 billion, or $2.78 per diluted share. However, that included a $16.8 billion pre-tax gain on Amazon’s investment in Anthropic, which inflated the bottom-line numbers. Excluding that one-time gain, adjusted earnings per share would have been $1.61, just shy of analyst expectations of $1.62.

https://www.geekwire.com/2026/aws-growth-climbs-to-28-as-amazons-big-ai-bets-start-to-pay-off/

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