Amazon
AMZNQ2 2025(AMZN Q1 FY2025)Stated1.1% AI
AI Revenue %
1.1%
AI Fair Value
$27.2B
AI Revenue (Q)
$1.6B
Total Revenue (Q)
$143.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Jassy stated AWS AI is a 'multibillion dollar annual revenue run rate' growing triple-digit YoY. 'Multibillion' implies at least $2B but the floor is ambiguous. Ring 1 Core AI at AWS includes Bedrock (managed foundation model inference), SageMaker AI (ML platform), Trainium/Inferentia chip instances, and Amazon Nova models. It excludes Graviton (general-purpose ARM CPU), standard EC2/S3 compute consumed for AI workloads, Alexa, and Rufus. At this point in 2025, Bedrock and Trainium were ramping but not yet at the scale disclosed in later quarters. Conservative estimate: ~$7B annual run rate for Ring 1 AI services (Bedrock ~$2B ARR, Trainium instances ~$3B ARR, SageMaker AI + other ~$2B ARR), yielding ~$1.75B quarterly. Math: $1,750M / $155,667M = 1.1%. This is conservative given capacity constraints Jassy acknowledged ('we could be helping more customers and driving more revenue if we had more capacity').
Analyzed by claude-opus-4-6
Quoted Figures
Our AI business has a multibillion dollar annual revenue run rate, continues to grow triple-digit year-over-year percentages, and is still in its very early days.
Q1 FY2025 earnings call, CEO Andy Jassy prepared remarks
I think we could be helping more customers and driving more revenue for the business if we had more capacity.
Q1 FY2025 earnings call, CEO Andy Jassy Q&A
AWS grew 17% year-over-year in Q1 and now sits at a $117 billion annualized revenue run rate
Q1 FY2025 earnings call
AWS Net sales $29,267 million (Q1 2025)
Q1 FY2025 10-Q, Note 8 Segment Information
Confidence Tier
StatedAI figures cited by management on earnings calls