Amazon's homegrown AI chips generate $20B in revenue and could become a major external business as the company plans $200B in 2026 capital spending.

Amazon's proprietary AI chips (Graviton and Trainium) achieved a $20B+ annual revenue run rate with triple-digit year-over-year growth

The company is evaluating selling these chips directly to external customers, potentially creating a new profit stream beyond internal AWS use

Amazon plans approximately $200B in capital expenditures for 2026, backed by significant customer commitments to its cloud services