AMZN’s capex
From 2000 to 2020 $70B
From 2020 to today $273B
Not all of this went to AWS, significant portion of this capex went to automated warehouses/ fulfilment centers, logistics. They have recently build a fully automated robotic facility.
2024 will be $75 B
2025 will be $85 B
2026 will be $93 B
Currently capex is running roughly $20 B more than D&A. A single company invest $100 B in capex is mind boggling.