Amazon Intel Reddit Earnings: AI and Capex

Amazon Intel Reddit earnings on Oct. 29, 2026 showed strong AI-driven revenue growth at Amazon Web Services (AWS) and Intel’s data-center unit. Mixed near-term guidance and aggressive spending plans focused investor attention on the tradeoff between growth and capital intensity.

Earnings Growth and Guidance

Amazon.com Inc. (AMZN) reported AWS sales of $46.0 billion for the quarter ended Sept. 30, 2026, up 39.3% year over year and representing a $184 billion annualized revenue run rate. The company gave fourth-quarter net-sales guidance of $240.0 billion to $247.0 billion and operating-income guidance of $28.5 billion to $33.5 billion. This outlook factors in a 60-basis-point foreign-exchange headwind and assumes no impact from energy-derivative remeasurements or additional acquisitions, restructurings, or legal settlements. Amazon’s management said AWS revenue growth is expected to exceed 40% in both 2027 and 2028, describing this as commentary rather than formal guidance.

Intel Corp. (INTC) reported third-quarter revenue of $16.5 billion and GAAP earnings per share of $0.60 (non-GAAP $0.52). Its Data Center and AI segment generated $7.3 billion in revenue, up 78% year over year, while client computing and physical AI revenue declined 5% to $8.1 billion. Intel set fourth-quarter revenue guidance of $15.0 billion to $16.0 billion and a non-GAAP earnings-per-share target of $0.25. The company’s chief financial officer said the PC slowdown is expected to continue through at least the first half of 2027.

Reddit Inc. (RDDT) exceeded third-quarter revenue and earnings expectations but issued weak fourth-quarter sales guidance. The company reported third-quarter capital expenditures of approximately $1 million, equal to 0.1% of revenue. Reddit said Google search-referral traffic declined meaningfully during the quarter as users shifted toward AI-generated search experiences. It plans to test requiring users outside the United States to log in before accessing the platform during the fourth quarter, citing operational complexity.

Capital Spending and Strategic Shifts

Amazon flagged an expanded capital expenditure plan, maintaining approximately $220 billion of cash capital expenditures for full-year 2026. Third-quarter capital expenditures totaled $77.3 billion, more than double the $35.1 billion spent in the third quarter of 2025.

Intel maintained expected 2026 gross capital expenditures of $20 billion and indicated that 2027 spending would increase substantially.

Reddit’s minimal capital spending contrasts with its operational changes. The company plans to test a login requirement for international users in the fourth quarter, reflecting shifts in user behavior and platform access complexity.

Together, these results highlight the tension between rapid AI-driven revenue growth at AWS and Intel’s data-center business and materially higher capital spending, especially Amazon’s expansive program. This dynamic frames a near-term tradeoff between scaling AI capabilities and near-term profit and cash-flow outcomes that investors are monitoring closely.