Amazon
AMZNQ2 2024(AMZN Q1 FY2024)Stated2.1% AI
AI Revenue %
2.1%
AI Fair Value
$45.3B
AI Revenue (Q)
$3.0B
Total Revenue (Q)
$143.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
AWS Q1 2024 revenue was $25,037M out of total $143,313M (17.5%). Amazon announced Bedrock was growing significantly, Trainium2 chips were announced, and AI services were increasingly embedded in AWS offerings. The filing notes server useful life was changed from 5 to 6 years, reflecting data center modernization. Management commentary on earnings calls indicated AI was a multi-billion dollar run rate business. Estimating ~12% of AWS as AI/ML. Math: $25,037M × 0.12 = $3,004M / $143,313M = 2.1%.
Analyzed by claude-opus-4-6
Quoted Figures
AWS Net sales $25,037 [Three Months Ended March 31, 2024]
10-Q 2024-03-31, Segment Information
effective January 1, 2024 we changed our estimate of the useful lives for our servers from five to six years. The longer useful lives are due to continuous improvements in our hardware, software, and data center designs.
10-Q 2024-03-31, Note 1
AI Products Identified (Ring 1)
Amazon BedrockAmazon SageMakerAmazon QTrainium instancesInferentia2 instancesPartyRock
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
EC2 computeS3 storageRDSLambdaCloudFront
Confidence Tier
StatedAI figures cited by management on earnings calls