Key Takeaways Amazon spent $31.4B in Q2, with AI infrastructure driving capex toward$100B for 2025.AWS revenues rose 17.5% y/y, with 18% growth projected for 2025 and 2026.Heavy spending cuts AWS's margin outlook to 35% in 2025 from 39.5% a year earlier.Amazon (AMZN) is betting big on artificial intelligence, with the capital expenditure soaring to $31.4 billion in the second quarter of 2025, largely directed toward AI infrastructure and cloud technologies. Management noted this level of spending is likely ...