Amazon's Q3 Property and Equipment Spending Far Exceeds Expectations, Sends Stocks Plunging 12% in After-Hours Trading. According to Jinse Finance, Amazon's stock plunged 12% in after-hours trading on October 30th. Amazon's third-quarter spending on property and equipment exceeded $77 billion, far surpassing analyst estimates, as the company pushes forward with data center construction to meet the demands of its artificial intelligence services. This massive spending resulted in a $42.4 billion outflow of free cash from Amazon. Amazon's third-quarter revenue grew 12% to $201.9 billion, with its cloud division AWS accelerating growth for the sixth consecutive quarter, but its core online business showed signs of slowing growth. AWS's accelerated growth this year is driven by sales to AI companies such as OpenAI and Anthropic, both of which rely in part on Amazon servers to power their models. Amazon also expanded its data center clusters, enhancing its ability to provide computing power to enterprises. In July, Amazon stated that its capital expenditures could reach $220 billion by 2026, higher than previously forecast, due to a memory chip shortage that hampered supply.