Amazon completed its $50 billion investment in OpenAI when it
recently fulfilled its commitment on a remaining infusion of $35 billion promised at the time that the ChatGPT maker met certain criteria.
In a Form 8-K filing on February 27, 2026, it states that an Amazon
subsidiary agreed to an equity commitment to purchase $35.0 billion of OpenAI's Series C Preferred Stock, along with a $15 billion investment.
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At the time, the company said it would invest the
remaining billions when either OpenAI went public or when it met “specified milestones.”
The
investment -- made public in a 10-Q Securities and Exchange Commission report filed
Friday -- read: "We also invested $15.0 billion in Series C Preferred Stock of OpenAI and entered into an equity commitment letter agreement (the “Letter Agreement”), pursuant to which we
agreed to purchase additional shares of Series C Preferred Stock (the “Commitment Shares”) with an aggregate purchase price of $35.0 billion (the “Commitment Amount”)."
Amazon President and CEO Andy Jassy in the earnings call detailed revenue gains in the company's advertising business -- up 26% to $19.8 billion for the quarter.
Sponsored Products continues as the largest key driver of growth, as well as agentic and conversational ad experiences through products like Alexa+ and Alexa for Shopping.
Amazon Web
Services's AI revenue run rate climbed quarter-over-quarter, and is now more than $25 billion, growing triple-digit percentages year-over-year, Jassy said during the earnings call.
Jassy said Amazon Ads generated $19.8 billion of revenue, up 26% year-over-year. Sponsored Products continued as the company's largest ad offering and a key driver of growth.
Ads Agent have turned hours of setup and targeting into minutes, Jassy said. Advertisers using Ads Agent targeting see 8% lower cost per impression and 6% lower cost
per acquisition, and the company expanded it to 11 new countries this year.
"Increasingly, more shoppers are discovering products in our agentic and conversational
experiences, including in Alexa+ and Alexa for Shopping<" Jassy said. "Shoppers who click a sponsored prompt convert to a sale 48% more often and spend 21% more on average than those
who don't. We see continued growth and engagement in Prime Video ads and live sports.
Amazon introduced 30 new advertisers to the NBA in its first year of the
partnership, and inventory on Thursday Night Football, NBA, WNBA, and NASCAR all selling out.
Overall, Amazon delivered Q2 2026 revenue of $200.6 billion, up 20% YoY, and operating
income of $27.5 billion, up 43% YoY, driven by AWS revenue growth of 36.7% and performance across core and AI. Management raised 2026 CapEx guidance to $220 billion, citing strong AI demand, and
expects continued capacity constraints into 2027 and 2028.
Independent agency Skai released its Q2 2026 Digital Advertising Trends Report shows AI has begun to reshape consumer behavior
and media economics, with Amazon's ad revenue reaching $17.2 billion during the past year.
Within retail media, Amazon DSP became a success story, according to Skai, with clicks more than
doubling YoY, while cost per clicks (CPCs) declined significantly. During Prime Day, DSP's share of Amazon Ads investment rose from 17.9% to 25.5%.