Amazon reported Q2 2026 sales of $200.6B (+20% YoY), operating income of $27.5B (+43%), and AWS revenue of $42.2B (+37%), with AI and custom chip units each exceeding $25B ARR. The company raised full-year capex to $220B and guided Q3 sales to $197–$202B. Amazon disclosed a $50B OpenAI investment: $15B in Q1, $13.7B in Q2, and $21.3B after quarter end, with Series C preferred converting to common stock at IPO or liquidity event. Warren Buffett acknowledged he did not understand Amazon at the time of Berkshire’s initial investment, and Berkshire Hathaway exited its position in Amazon.com, Inc. (AMZN) in 2026.