From the question of where Amazon is in the AI race to forecasts for the next quarter, here are four key takeaways from the Q2 earnings call.

The firm estimated that the AI startup Anthropic should contribute about 1 percentage point of additional growth to AWS revenue in the second half compared with the first half, +2.4% vs. +1.3%. That supports the potential for stock outperformance in the second half of 2025, the firm said.

With headcount inching up to 1.55 million, CEO Andy Jassy said "AI progress across the board continues to improve our customer experiences, speed of innovation, operational efficiency, and business growth,