AWS growth accelerates to 39.3%

Amazon CEO Andy Jassy said in Q3 earnings remarks that AWS grew 39.3% year over year. That was the sixth straight quarter of acceleration, and it came even though AWS was up against a year-earlier quarter in which it had added a lot of capacity. AWS backlog stands at $578 billion, growing at triple digits year over year.

Jassy said AWS is installing an AI accelerator "about every 14 seconds," with customers taking up the capacity almost as fast as it comes online. He said Core compute and storage revenue grew at their fastest rates in several years. He also said AI operating margins are improving quickly despite higher component costs, such as memory, and heavy depreciation from capex. He described AWS as a long-term platform, in contrast to "primarily hosting GPUs or renting short-term datacenter capacity."

On specific services, Jassy said:

• Bedrock: Fortune 500 spending is up nearly 7x year over year and total token volume nearly 17x. He called it the fastest-growing multi-billion-dollar service in AWS history. OpenAI models were recently added, along with Bedrock-managed Kimi, GLM and SpaceX models. Amazon's quarterly highlights list the additions as OpenAI's GPT-6 Astra, Sol, Luna and GPT-6.1 Sol; Anthropic's Claude Fable 5.1, Opus 5.5, Sonnet 5.5 and Haiku 5.5; Kimi K3; Grok 4.7; GLM 5.3; and two OpenAI cybersecurity models.
• AgentCore: Tens of thousands of customers use it. They deployed 2x more agents in Q3 than in the prior three quarters combined.
• AWS Continuum: The code-vulnerability service, now generally available, is used by Capital One, IBM, Robinhood and others. It will be integrated into Anthropic's Claude Code, OpenAI's Codex and AWS's Kiro.
• DuckLabs acquisition: Jassy said DuckDB will become "the universal SQL dialect of AWS storage and analytics."

Amazon's highlights also list a public preview of OpenAI-powered Bedrock Managed Agents, built-in web search for OpenAI models on Bedrock, the Strands agent harness (which Amazon says cuts agent task costs by 32%), a preview of the Strands Box agent sandbox, the open-sourced Kiro Crew workspace, Lambda Web Functions, and TorchNeuron for running existing PyTorch code on Trainium unchanged. Lambda topped a $1 billion annualized revenue run rate, Amazon Quick expanded into Outlook, Word, PowerPoint and Excel, and AWS signed new agreements with Meta, NVIDIA, OpenAI, Salesforce and others.

The excerpt does not give AWS revenue in dollars, operating margin figures or capex totals.