Most people think of Amazon (NASDAQ:AMZN) as the place their packages come from. The part of the company drawing the most attention right now sells something far less visible: custom AI chips. In the second quarter of 2026, Amazon Web Services (AWS) said its chips business and its AI business had each passed a $25 billion annual revenue run rate, and both were growing at triple-digit rates. AWS is Amazon's cloud arm. It rents computing power, storage, and software tools to businesses and charges for what they use. Its homegrown Trainium chips give customers a way to train and run AI models on Amazon's own hardware rather than someone else's. The catch is the bill.
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