Amazon Just Burned $42 Billion in Cash Chasing AI Growth. Is Wall Street Ignoring the Risk?

Amazon spent $77.3 billion on property and equipment in Q3, more than double year-over-year, driving AWS growth to 39% — its fastest in nearly five years. However, the company posted a $42.4 billion free cash flow loss over the past 12 months and increased long-term debt from $65.6 billion to $173.1 billion. While AWS performance is strong, the author expresses skepticism about whether the massive AI infrastructure spending will ultimately prove profitable, especially if demand from AI labs like Anthropic slows.