Amazon’s $25 Billion Bond Sale Highlights Custom Silicon Bet Against Microsoft’s AI Strategy

EarningsIndustry Impact 4
โดย Yahoo Finance·Read original
Summary · why it matters

Amazon and Microsoft both reported earnings on April 29, 2026, revealing diverging approaches to AI infrastructure. Amazon’s AWS grew 28% to $37.59 billion in revenue, its fastest pace in fifteen quarters, while the company’s custom chip business reached a $20 billion run rate with triple-digit growth and total Trainium commitments exceeding $225 billion. Amazon also sold a $25 billion multi-tranche bond to fund infrastructure, even as its trailing twelve-month free cash flow collapsed 95% to $1.2 billion and long-term debt rose to $119.1 billion. Microsoft’s Azure grew 40%, with its AI business hitting a $37 billion annual run rate and commercial remaining performance obligations nearly doubling to $627 billion. Amazon CEO Andy Jassy expects Trainium to save tens of billions in annual capital expenditures, while Microsoft relies on its OpenAI partnership and NVIDIA silicon.

Impact on stocks 2

Artificial Intelligence▲ · 2 stocks
Amazon.com Inc
AMZN
▲ PositiveDemandCapitalrelevance

AWS revenue growth of 28% and custom chip business reaching $20B run rate with triple-digit growth and $225B in Trainium commitments.

Microsoft Corporation
MSFT
▲ PositiveDemandrelevance

Azure grew 40%, AI business hit $37B annual run rate, and commercial remaining performance obligations nearly doubled to $627B.

Theme Impact 6

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