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Amazon shares slumped 10 per cent on Thursday after it announced plans to spend $200bn on capital expenditure in 2026, roughly a third more than Wall Street had forecast, as it increases its bet on AI.
The Seattle-based tech giant said that capex would climb from nearly $130bn in 2025, having ploughed cash into the build-out of data centre infrastructure this past year.
Amazon’s commitment for the coming year exceeds rivals including Google and Microsoft.
Shares in the group fell more than 10 per cent in after-hours trading in New York.
This is a developing story