Jassy predicts Amazon could have two $1 trillion businesses within a decade

Amazon CEO Andy Jassy said AWS and the company's stores business could each reach $1 trillion in annual revenue within five to 10 years. AWS is at a $184 billion run rate after 39% growth and has a $578 billion contracted backlog, while Amazon expects about $220 billion in capital spending this year.

• AWS reached a $184 billion annual run rate after growing 39% in Q3
• AWS contracted backlog stands at $578 billion, with growth above 40% expected in 2027–2028
• Amazon stores generated $309 billion over 12 months, or about $575 billion including third-party and ads
• Amazon expects about $220 billion in capex this year; free cash flow was negative $42.4 billion