Amazon (AMZN): Who Captures the Savings From its Custom AI Chips?

Amazon.com, Inc. (NASDAQ:AMZN) earns money from retail sales, marketplace fees, advertising, subscriptions, and cloud computing. Amazon Web Services, or AWS, rents computing capacity to businesses and developers and generated about 60% of second-quarter 2026 operating profit. Its AI expansion makes it a company to examine in 10 Most Active Blue Chip Stocks to Buy Right Now. Trainium, the custom processor developed by Amazon.com, Inc. (NASDAQ:AMZN), trains and runs AI models. Expanding customer commitments raise a valuation question: how much of its potential cost advantage survives customer discounts, chip development, and infrastructure spending?Amazon.com, Inc.