Amazon expects capital spending of roughly $220B in 2026, and chief executive Andy Jassy tells a16z co-founder Ben Horowitz that the company is still leaving meaningful AI demand on the table. He argues the buildout could eventually take AWS toward a $1 trillion annual run rate.
The conversation covers how Amazon decides how much infrastructure to build, why cheaper inference could unlock wider enterprise adoption, the case for Annapurna Labs custom chips, and how smaller teams are rebuilding products inside the company.