安迪·贾西已明确表示，他相信亚马逊云科技（AWS）可以成为一家年营收达万亿美元的业务。在亚马逊周四的季度财报电话会上，他重申了这一雄心。
Andy Jassy has made it known that he believes AWS can be a trillion-dollar revenue business. During Amazon’s quarterly earnings call on Thursday, he repeated this ambition.
“我们在亚马逊构建的东西是前所未见的。从未有过一家年营收达万亿美元的企业，”他说。
“What we’re building at Amazon is unlike anything that’s ever been seen before. There has never been a business with a trillion dollars of annual revenue,” he said.
然而，在云业务达到这一目标之前，亚马逊将不得不增加资本支出，以建设支撑这一蓬勃发展业务所需的基础设施。
However, before the cloud business gets there, Amazon is going to have ramp up its capital expenditures to build out the infrastructure necessary to support that blossoming business.
“我们仍预计2026年现金资本支出约为2200亿美元——其中大部分用于AWS——并预计2027年将有意义地增加支出，且清晰地看到能够获得其财务回报，”贾西周四透露。
“We still expect 2026 cash capex of approximately $220 billion — the majority for AWS — and expect to spend meaningfully more in 2027, with a clear line of sight to attract its financial returns,” Jassy revealed on Thursday.
亚马逊在人工智能基础设施建设上的巨额支出一直是投资者今年持续关注的焦点。确实，在周四的电话会上，华尔街分析师反复要求贾西解释这笔支出、真正增长到来的信号以及预期的利润率。
Amazon’s big spending on its AI infrastructure buildout has been an ongoing source of concern for investors this year. Indeed, during Thursday’s call, Wall Street analysts repeatedly asked Jassy to explain the spending, the signals that the growth really will come, and the profit margins expected.
贾西告诉他们，这笔钱花得值，因为这家电商巨头计划抓住由人工智能驱动的全球云需求这一历史性时机。AWS营收较上年同期增长39%，这是连续第六个季度保持稳健增长。
Jassy told them it was all money well spent because the e-commerce giant planned to capitalize on a historic moment in global cloud demand driven by AI. AWS revenue increased 39 percent from the year-ago quarter, a trend of steady growth for the sixth straight quarter.
首席执行官在电话会上预测，AWS营收不仅明年将增长40%，2028年也将增长40%。
And the CEO forecast on the call that it would increase by 40% not just next year, but in 2028, too.
“AWS 是一项年化收入运行率达 1840 亿美元的业务，但机遇依然非同寻常，”首席执行官兴奋地表示。“凭借我们持续的创新步伐、新的核心与 AI 功能、企业希望在 AWS 上运行其核心与 AI 工作负载，以及我们每年新增的产能规模，我们相信 AWS 在 2027 年和 2028 年每年都能实现 40% 以上的增长，并在未来五到十年内成为一项万亿美元收入规模的业务。”
“AWS is a $184 billion annualized revenue run-rate business, and yet the opportunity remains extraordinary,” the CEO enthused. “With our continued pace of innovation, new core and AI functionality, enterprises wanting to run their core and AI workloads in AWS, and the amount of capacity that we’re adding each year, we believe that AWS can grow north of 40 percent in each 2027 and in 2028, and be a trillion-dollar revenue business in the next five to 10 years.”
贾西补充说，企业采用 AI 仍处于“非常早期”，并表示迄今为止“战略正在奏效”。随后，当被问及为何扩充 AWS 所需的投资如此巨大时，贾西将 AI 热潮描述为“千载难逢的机遇”，认为这需要、也值得现在做出如此巨大的财务承诺。
Jassy added that the company was “in the very early days” of AI adoption by the enterprise and said that, so far, the “strategy is working.”Later, when questioned why the investment needed to grow AWS was so substantial, Jassy characterized the AI boom as a “once in a lifetime opportunity” that required, and was worth, such a big financial commitment now.
“我们将投资以继续保持领先地位，”他说。“我们有能力为这项计划提供资金，我认为它将永远改变亚马逊的规模，永远改变我们的收入。”然而，投资者依然感到担忧。周四盘后交易中，股价下跌约 6%。
“We’re going to invest to continue being the leader,” he said. “We can fund this plan, and I think it will forever change the size of Amazon. It will forever change our revenue.”Investors, however, remained concerned. Shares were down about 6% on Thursday in after-market trading.
AI 热潮对云计算行业而言是喜忧参半，因为支撑这场热潮的 AI 服务依赖于云基础设施。与亚马逊一样，其他云服务提供商也在大举投入，同时也大赚特赚。例如，微软刚刚再次公布创纪录的收入增长，主要得益于其云业务。它同样投入了巨资。
The AI boom has been a mixed blessing for the cloud industry, since the AI services that undergird the boom are supported by cloud infrastructure. Like Amazon, other cloud providers are spending big but also earning big. Microsoft, for instance, just posted yet more record-breaking revenue growth, driven largely by its cloud business. It, too, has spent a bundle.