Andy Jassy projects AWS to reach trillion-dollar revenue within a decade, backed by massive capital expenditures earmarked for cloud and AI infrastructure growth.

Speaking at an economic briefing on Thursday, Jassy reiterated that goal. It was also reported that Amazon expects total investments of about $220 billion for 2026, with the bulk of it going to this service, while in 2027 the expenses are expected to be even higher.

These huge sums of money being spent on AI infrastructure have investors worried. During the conference call, Wall Street analysts repeatedly asked Jassy to explain the reasons behind these expenses, signs of growth and profit margins. In after-hours trading on Thursday, Amazon shares fell about 6%.

The service’s revenue grew 39% year-over-year, marking its sixth consecutive quarter of solid growth. Jassy predicted revenue growth of more than 40% in both 2027 and 2028, and the service currently has annual revenue of $184 billion.…