Amazon AI Revenue Exceeds $15B Run Rate as Jassy Defends $200B Capex with Customer Commitments

AWS CEO Andy Jassy disclosed that AWS AI revenue has exceeded a $15B annual run rate and is 'ascending rapidly' in his annual shareholder letter. He defended Amazon's $200B capital expenditure plan by noting substantial portions are backed by existing customer commitments, with monetization expected in 2027-2028. Jassy declared a 'new shift' away from Nvidia chips is underway, with Amazon's Trainium3 and Trainium4 chips nearly sold out. AWS also expanded Amazon Bedrock with multimodal retrieval capabilities for Knowledge Bases, enabling RAG applications to search across text, images, audio, and video, alongside stateful MCP client capabilities for interactive multi-turn agent workflows.