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AWS Performance Obligations
Reflects future revenue commitments for AWS services, indicating the strength of customer demand and the potential for sustained growth in Amazon's cloud business.AWS’s backlog has surged recently, reflecting large multi‑year commitments tied to AI (Bedrock), custom silicon and LEO deals disclosed on the call — giving much stronger forward revenue visibility and underpinning the case for heavy AWS capex. However, monetization may be lumpy: Trainium capacity limits, memory/storage supply constraints and near‑term LEO costs create timing and execution risk, so upside is real but expect continued heavy investment and uneven conversion into free cash flow in the short term.
Date | AWS Remaining Performance Obligations |
|---|---|
Jun 30, 2026 | $496.00B |
Mar 31, 2026 | $364.00B |
Dec 31, 2025 | $244.00B |
Sep 30, 2025 | $200.00B |
Jun 30, 2025 | $195.00B |
Mar 31, 2025 | $189.00B |
Dec 31, 2024 | $177.00B |
Sep 30, 2024 | $164.00B |
Jun 30, 2024 | $156.60B |
Mar 31, 2024 | $157.70B |