Amazon’s backlog is now $244 billion, up 40% year over year. “There’s a lot of demand for AWS right now, in the AI space and also in the core AWS space,” Jassy said.
CEO Sundar Pichai said that Google plans to spend around $180 billion on capex in 2026. And Google also reported a backlog of $240 billion in February.
“The number of deals in 2025 over a billion dollars surpassed the previous three years combined,” said Pichai.
The driver for this growth? AI spending. AI companies need more compute capacity to train more powerful models. And enterprises deploying AI are driving demand for inference.
In survey after survey, the majority of companies say that they plan to increase their AI-related spending this year.
According to a survey of nearly 2,400 executives that Boston Consulting Group released in January, companies will double their AI spending this year, from .8% to 1.7% of revenues. And more than 90% of CEOs say that they will continue to invest in AI at current or higher levels, even if the investments do not pay off in the next year.
