Amazon surpassed $200 billion in quarterly revenue for the first time, driven by growth in its cloud and artificial intelligence businesses. On the 30th, Amazon reported second-quarter revenue of $206.1 billion, up 20% from a year earlier, beating the market forecast of $196.5 billion. Operating income rose 43% to $27.5 billion. Amazon Web Services revenue grew 36.7% to $42.2 billion, the highest growth rate in 18 quarters, with its AI business and in-house semiconductor business each exceeding an annualized $25 billion in revenue. North America and international retail sales grew 15%–16% each, and advertising revenue increased 26%. Net income reached $62.6 billion, helped by valuation gains from its Anthropic investment, with earnings per share of $5.75, above the market estimate of $1.82. Amazon raised its capital expenditure outlook for this year to $220 billion from $200 billion to meet AI demand. Free cash flow over the past 12 months swung to a $7.6 billion deficit due to increased investment. Chief Executive Andy Jassy suggested possible additional investment, noting spending on data centers and servers converts to revenue soon after they come online. The third-quarter revenue outlook of $197 billion–$202 billion fell short of market expectations, but the stock rose 3.9% in regular trading and gained 9.5% after-hours.