Amazon's AI-driven expansion fuels stock surge after 2022 split

Amazon's shares have risen about 92% since the company completed a 20‑for‑1 stock split in 2022. The rally reflects stronger retail efficiency, higher margins and, most importantly, rapid growth in Amazon Web Services (AWS). AWS revenue grew 28% year‑over‑year in the first quarter and now generates roughly $137 billion in annual revenue and $48 billion in operating income. The cloud unit’s AI infrastructure, built around custom Trainium accelerators and Graviton CPUs, is already delivering more than $20 billion in annualized revenue, with over $225 billion in usage commitments from AI firms such as OpenAI and Anthropic.

Operating cash flow reached a record $148 billion over the trailing twelve months, giving Amazon ample capital to fund its AI data‑center build‑out. The company is also expanding its consumer reach with initiatives like Alexa for Shopping, the low‑Earth‑orbit Leo satellite broadband network, and potential integration of Globalstar assets. Combined, these moves position Amazon as a dominant player in both the consumer digital ecosystem and the emerging AI infrastructure market.