Amazon reported strong fourth-quarter results with net sales of $213.4 billion and diluted EPS of $1.95, beating expectations. AWS revenue surged 24% to $35.6 billion, highlighting high demand for cloud and AI services. To address supply constraints, Amazon plans to spend $200 billion on capex in 2026. Alphabet’s cloud growth is outpacing Amazon’s, with Google Cloud growing 48% year over year. This growth is closing the gap on its rivals, posing a potential threat to Amazon’s dominant position in the cloud market.

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