Amazon shares surged 14.53%, closing at $269.73, after the company posted impressive second-quarter results driven by solid revenue growth and booming cloud services. The tech giant also wrapped up its $50 billion investment in OpenAI, reinforcing its stake in the AI sector.
Amazon completed the final $35 billion payment for OpenAI’s Series C preferred stock, following a previous $15 billion investment. According to an SEC filing from February 2026, the deal hinged on OpenAI hitting key milestones or pursuing a public offering. This strategic move ties OpenAI’s computing needs closely to Amazon’s expanding cloud infrastructure and data centers.
Cloud and Ads Drive Strong Performance
The company reported Q2 revenue of $200.6 billion, marking a 20% year-over-year increase. Operating income climbed 43%, amounting to $27.5 billion. AWS revenue jumped 36.7% as demand for AI-powered cloud services accelerated. CEO Andy Jassy highlighted that AWS’s AI revenue run rate has surpassed $25 billion, with triple-digit growth compared to last year. To keep pace with demand, Amazon raised its 2026 capital expenditure forecast to $220 billion.
Advertising also contributed generating $19.8 billion up 26% from the same quarter last year. This growth shows how Amazon’s diversified business model is capitalizing on the surge in digital ad spending alongside its cloud ambitions.
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