Amazon reported $200.6 billion in Q2 revenue with AWS growing 37%, its fastest pace since 2021, but free cash flow turned negative for the first time since 2023 due to massive capital expenditures on AI data centers.
Amazon increased its annual capital spending plans following robust cloud computing sales growth, its strongest performance in more than four years, as the company argues AI investments are generating sufficient demand to justify the expenditures.
Bitcoin remained resilient around $65,400 on Friday while the Magnificent Seven megacap tech stocks experienced their worst trading day since April 2025, shedding $797 billion in market value amid concerns over AI capital expenditure forecasts from Alphabet and Tesla earnings disappointments.
