Investors are expected to focus on cloud growth, AI spending and the recent layoffs in Amazon's corporate workforce.

The company reported a strong holiday quarter on Thursday. But its spending, like that at other big technology companies, is starting to make investors nervous.

Amazon sales surged 14% during the fourth quarter, helped by strong holiday spending and a better-than-expected growth in its prominent cloud computing unit. But shares fell 11% in after hours trading on Thursday as investors appeared to be spooked by the Seattle-based tech company's plans to increase capital spending by nearly 60%

Amazon posted record quarterly revenue and strong cloud growth in Q4 — but its stock fell after the company revealed its capital expenditure plans for 2026.

Alexa Plus is aiming higher with a new superhero Super Bowl spot and a US-wide launch, including a free version for any app user.

Amazon opens Alexa+ to everyone in the U.S. The AI feature is free for Prime members across devices, and free for everyone on mobile and web.

Amazon reports Q4 earnings Thursday, capping a tech earnings season dominated by a single question: whether the industry's AI spending binge will ultimately be worth it.

“If you receive a message about the purchase of a product or service,” the retail giant says, “do not respond to the message or click on any link in the message; instead, log into your Amazon account or use the Amazon mobile app and confirm that it is really in your purchase history before taking any action.”

Amazon Web Services generated $35.58 billion in revenue, according to a statement. Analysts polled by StreetAccount had expected $34.93 billion. AWS represented about 17% of Amazon's total revenue for the quarter.