Amazon(US:AMZN) Ge Long Hui A P P·2026-02-06 09:21Core Viewpoint - Amazon's stock plummeted 11% after hours due to concerns over its $200 billion capital expenditure plan, the highest among major tech companies, significantly exceeding last year's spending and analyst expectations by over $50 billion [1] Group 1: Capital Expenditure Concerns - The $200 billion capital expenditure plan is the largest among all major tech companies, raising market concerns [1] - This capital spending is a substantial increase compared to Amazon's previous year's expenditures [1] - The plan exceeds analyst expectations by more than $50 billion, indicating a significant upward revision [1] Group 2: CEO's Response and Confidence - Amazon's CEO Andy Jassy expressed confidence in achieving "strong investment returns" from the cloud business but did not provide a specific timeline [1] - Jassy stated that the large capital investment is necessary to meet the high demand for Amazon's AI computing power, which requires extensive infrastructure such as data centers, chips, and networking equipment [1] - He emphasized that this is not a reckless pursuit of revenue scale, asserting confidence that these investments will yield strong capital returns, as evidenced by the core AWS business [1] Group 3: AWS Growth Potential - Jassy mentioned that if computing power supply were more abundant, AWS's growth could have been faster, indicating a direct link between infrastructure investment and growth potential [1] - The company is committed to expanding capacity flexibly and aggressively to meet demand [1]