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Andy Jassy quote, Feb 5, 2026

President and CEO, Amazon · Feb 5, 2026 · Earnings, Amazon Q4 2025 earnings release (SEC Form 8-K, Exhibit 99.1)

With such strong demand for our existing offerings and seminal opportunities like AI, chips, robotics, and low earth orbit satellites, we expect to invest about $200 billion in capital expenditures across Amazon in 2026, and anticipate strong long-term return on invested capital.

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Words found on the source page on Sep 25, 2026.

More from Andy Jassy

Quote
We’re in the middle of some of the biggest inflections of our lifetime, we’re well positioned to lead, and I’m very optimistic about what’s ahead for our customers and Amazon.Apr 29, 2026· Earnings
AI is a once-in-a-lifetime opportunity where the current growth is unprecedented and the future growth even bigger.April 2026· Letter
At scale, we expect Trainium will save us tens of billions of capex dollars per year, and provide several hundred basis points of operating margin advantage versus relying on others’ chips for inference.April 2026· Letter
Both OpenAI and Anthropic have revenue run rates reportedly approaching $30 billion. These are breathtaking numbers for companies this soon after their commercial launches.April 2026· Letter
The temptation is to just add a little AI to the existing experience. That’s a start. But, the trick for leaders, ourselves included, is how to get organized and convicted about going back to the starting line and reimagining your experiences from a clean sheet of paper, assuming you were building with the new technology available.April 2026· Letter
Virtually all AI thus far has been done on NVIDIA chips, but a new shift has started.April 2026· Letter
We’re not investing approximately $200 billion in capex in 2026 on a hunch.April 2026· Letter
Our conviction that AI will change every customer experience is starting to play out...Jul 31, 2025· Earnings
Agents will be teammates that we can call on at various stages of our work, and that will get wiser and more helpful with more experience.Jun 17, 2025· Letter
Fast forward 28 years and the most transformative technology since the Internet is here.Jun 17, 2025· Letter
Technologies like Generative AI are rare; they come about once-in-a-lifetime, and completely change what’s possible for customers and businesses.Jun 17, 2025· Letter
There will be billions of these agents, across every company and in every imaginable field. There will also be agents that routinely do things for you outside of work, from shopping to travel to daily chores and tasks. Many of these agents have yet to be built, but make no mistake, they’re coming, and coming fast.Jun 17, 2025· Letter
We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs. It’s hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company.Jun 17, 2025· Letter
AI does not have to be as expensive as it is today, and it won’t be in the future.Apr 10, 2025· Letter
But, inference will also get meaningfully more efficient in the next couple of years with improvements in model distillation, prompt caching, computing infrastructure, and model architectures. Reducing the cost per unit in AI will unleash AI being used as expansively as customers desire, and also lead to more overall AI spending.Apr 10, 2025· Letter
Fundamentally, if your mission is to make customers’ lives better and easier every day, and you believe every customer experience will be reinvented by AI, you’re going to invest deeply and broadly in AI.Apr 10, 2025· Letter
Generative AI is going to reinvent virtually every customer experience we know, and enable altogether new ones about which we’ve only fantasized.Apr 10, 2025· Letter
We continue to believe AI is a once-in-a-lifetime reinvention of everything we know, the demand is unlike anything we’ve seen before, and our customers, shareholders, and business will be well-served by our investing aggressively now.Apr 10, 2025· Letter
While model training still accounts for a large amount of the total AI spend, inference (which are the predictions or outputs of the models) will represent the overwhelming majority of future AI cost because customers train their models periodically, but produce inferences constantly in large-scale AI applications.Apr 10, 2025· Letter
With what’s happening in AI right now, and the likelihood that every customer experience we’ve ever known will be reinvented, there has never been a more important time, in my opinion, to optimize to invent well.Apr 10, 2025· Letter
Last but certainly not least, Generative AI may be the largest technology transformation since the cloud (which itself, is still in the early stages), and perhaps since the Internet. Unlike the mass modernization of on-premises infrastructure to the cloud, where there’s work required to migrate, this GenAI revolution will be built from the start on top of the cloud.Apr 11, 2024· Letter
While we’re building a substantial number of GenAI applications ourselves, the vast majority will ultimately be built by other companies.Apr 11, 2024· Letter

On the same topics

Quote
If the top U.S. labs have to give up on what is supposed to be really important, they will look very “catchable.” The policy creates a big incentive for some other parts of the world to invest a lot more in compute.Tyler CowenSep 22, 2026· Post
A world with sufficient compute is one where intelligence is a commodity, and in commodity markets margin comes from a superior cost structure, which I would expect the leading model providers to have, in part because they have a meaningful lead in scaling and can apply superior AI to their infrastructure.Ben ThompsonSep 21, 2026· Post
I have my doubts that the labs can afford to spend a constant portion of this compute on internal R&D as the total volume goes up, especially with plans to IPO, as they face increased scrutiny on basic economics.Nathan LambertSep 19, 2026· Post
It is important to not confuse massive steps in inference-time scaling, a dynamic which should be fairly predictable, with being the outputs of RSI, which is highly uncertain.Nathan LambertSep 19, 2026· Post
If you have five hours, you’re probably going to do a lot better. The AI models are pretty similar.Noam BrownSep 17, 2026· Interview
But in my view, the net effect of the last decade of “Doomer” talk (Coxon appears to be a card-carrying member of that party) has been to make the Frontier AI companies wealthier and more powerful.Gary MarcusSep 10, 2026· Post
About this quote
Said by
Andy Jassy, President and CEO, Amazon
Where
Amazon Q4 2025 earnings release (SEC Form 8-K, Exhibit 99.1)
Topics
Investment, Compute
Company
Amazon
Source
sec.gov/Archives/edgar/data/1018724/000101872426000002/amzn-20251231xex991.htm

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