I don’t understand this? Amazon is a profitable company, on the scale of tens of billions of dollars per quarter. They very literally do have the cash.
Am I missing some subtlety in their financial reporting?
When you present these numbers alongside each other, you imply that they will go from making ~$20b/quarter to losing ~$30b/quarter, which is not plausible to me.
Yes 100B in capex is unprecedented for Amazon (let alone 200). Last time they peaked Capex was at ~60B in 2021 when they decided to double their supply chain network.
So the marginal capex on gpus is likely 70-80% of their total capex