The Main Points
- Amazon shares surged 12% in premarket trading after second-quarter revenue topped analyst estimates.
- The beat was driven largely by strength in AWS, the company's cloud computing division.
- Amazon raised its 2026 capital expenditure plan to $220 billion, underscoring how much it's pouring into AI and data center infrastructure.
- The results landed during one of the busiest weeks of megacap earnings season, alongside Apple, Meta, and Microsoft.
- Investors have grown more selective this earnings season, rewarding companies that can show AI spending is translating into real revenue growth.