Jassy says AWS could hit $1T in revenue in next decade

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AWS’s 39% growth in the third quarter of fiscal 2026 shows AI demand reshaping cloud computing, with spend on cloud services reaching $168 billion.

Published Oct. 30, 2026

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Dive Brief:

• Amazon reported 39% year-over-year growth for its AWS segment in the third quarter of fiscal 2026, positioning the business segment to reach $1 trillion in revenue in the next five to ten years, according to CEO Andy Jassy.
• The company’s core compute and storage revenue “grew at their fastest rates in several years,” Jassy said during the company earnings call Thursday. The cloud provider’s backlog grew triple digits year over year to $578 billion and included new agreements with Meta, Nvidia, OpenAI, Salesforce and Oracle.
• Amazon will continue investing in AI functionality as enterprises seek to run core and AI workloads in...

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