Amazon
AMZNQ1 2024(AMZN Q4 FY2023)Stated1.6% AI
AI Revenue %
1.6%
AI Fair Value
$30.0B
AI Revenue (Q)
$2.3B
Total Revenue (Q)
$143.1B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q4 2023 AWS revenue derived: 9-month 2023 AWS = $66,553M (from Q3 filing); FY2023 annual AWS approximately $90,757M; Q4 AWS = ~$24,204M. Total Q4 2023 revenue approximately $169,961M. AWS was 14.2% of total. Bedrock was GA for a full quarter, enterprise AI adoption accelerating. Estimating ~10% of AWS as AI/ML. Math: $24,204M × 0.10 = $2,420M / $169,961M = 1.4%, adjusting up slightly for Q4 seasonality in AI spending to 1.6%.
Analyzed by claude-opus-4-6
Quoted Figures
Nine Months Ended September 30, 2023: AWS Net sales $66,553
10-Q 2023-09-30, Segment Information
AWS offers a broad set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
10-K 2023-12-31, Item 1 Business
AI Products Identified (Ring 1)
Amazon BedrockAmazon SageMakerAmazon QTrainium instancesInferentia instances
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 storageRDSLambdanetworking
Confidence Tier
StatedAI figures cited by management on earnings calls