Jassy Letter Reveals $50B AI Chip Business

Amazon CEO Andy Jassy's annual shareholder letter sent shares up over 5%, highlighting explosive AI growth at AWS. The company plans $200 billion in capital expenditures this year, mostly for AI infrastructure, with significant customer commitments already secured including a $100 billion deal with OpenAI. Jassy revealed AWS custom chip revenue runs at a $20 billion annual rate with triple-digit growth, potentially worth $50 billion as a standalone business. The letter also covered Amazon's satellite internet constellation Leo, 100 new Whole Foods locations, and plans to potentially sell custom supply chain robots and chip-equipped server racks to third parties.