Some of my long term $AMZN thesis Businesses are going to spend more on AI, and they already have the customer relationships to capture that spending through AWS. Training models and deploying agents create more demand for compute. AWS grew 37% YoY in Q2, with operating profit growing 63%. Their own chips give them more control over the cost of serving that demand. That business is already above a $25B annualized run rate. Better economics can help them attract customers and earn more from their usage. They also get paid when people shop and when sellers advertise to reach them. Advertising grew 26% YoY. More automation in fulfillment gives them another way to improve how much profit they keep from each order. The big financial opportunity is what happens as the new data centers fill up. They’re spending more than their operating cash flow today. Jassy expects much of the 2026 AWS investment to monetize in 2027–2028, with substantial customer commitments already in place. NFA