Amazon CEO Andy Jassy recently appeared on the a16z podcast, where he explicitly stated that AWS's main computing capacity for large customers is essentially sold out for 2026, with most of the 2027 capacity already sold/reserved, and a significant portion of the 2028 capacity already committed to by customers. He also indicated that some capacity will be reserved for on-demand demand, inference services like Bedrock, or EC2, but all major capacity blocks are essentially sold out. In fact, during a previous earnings call, Jassy also mentioned that even with high CapEx, 2026 demand would not be fully met, the same for 2027, and that demand for 2028 was already in place. Amazon previously announced approximately $220 billion in capital expenditures this year, explicitly stating that they "could invest a lot more and it wouldn't be a bad use of capital." This suggests that AWS's performance should be very strong under these circumstances, and capital expenditures may continue to increase. This post is sponsored by @bitget_zh, "Bitget US Stocks: Instant Entry, Smooth Trading."