With full-year capital expenditures projected to hit $220 billion, Amazon's after-hours trading saw shares retreat roughly 7% despite a blowout quarter.
Amazon’s best cloud quarter in five years came with a $42.4 billion free cash flow hole and a debt pile that has more than doubled since December. The market noticed.
E-commerce giant is among the biggest spenders on AI infrastructure.
Amazon.com on Thursday reported a massive cash burn in the third quarter, sending shares sharply lower, while it signaled higher capital expenditures next year atop an already huge amount in 2026.
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