Amazon's Trainium chip line builds $225 billion backlog as AWS revenue grows 28% in Q1 with AI-driven demand

AWS revenue rose 28% in Q1, reaching about a $150 billion annualized run rate—its fastest growth in 15 quarters. Amazon's Trainium chip line has built a backlog exceeding $225 billion and is growing at a triple-digit year-over-year rate.

Trainium2 delivers about 30% better price-performance than comparable GPUs and is largely sold out. Trainium3, the next-generation chip, improves performance by another 30% to 40% over Trainium2 and is already nearly fully subscribed.

AWS is no longer just a cloud and software-focused business; it is now an AI-focused chip company benefiting from increased demand for computing power to train and run large models, driving higher usage of GPU-based cloud services and AI chips.