Amazon CEO Jassy Says AWS Compute Capacity Essentially Sold Out Through End of 2027; Backlog Orders at Five Major Cloud Providers Near $2.5 Trillion
Amazon CEO Jassy said AWS cloud computing capacity is essentially sold out through the end of 2027, with a large number of orders scheduled into 2028, and that supply remains constrained even though Amazon plans to invest about $220 billion in capital expenditure in 2026. Amazon's Q2 2026 compute cloud backlog orders stood at $496 billion, up 154% year over year; backlog orders at Microsoft, Oracle, Google Cloud, and CoreWeave were $678 billion, $664 billion, $514 billion, and $104 billion, respectively, bringing the five major cloud providers' total to nearly $2.5 trillion. Affected by this news, cloud computing concept stocks were active on October 26, with Shengtian Network rising nearly 15% and Massive Data hitting the daily limit.
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Combined backlog orders at the five major cloud providers total nearly $2.5 trillion, which readers can use to observe the mismatch between compute supply and demand and the pace of capital expenditure.
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On Monday (October 26), cloud computing concept stocks were active, with Shengtian Network up nearly 15%, Haitian Data hitting the daily limit, and Shunwang Technology, Yusys Technologies, and Pingao shares rising in sympathy.
On the news front, according to CCTV Finance, Amazon CEO Jassy said that AWS cloud computing capacity has been basically sold out through the end of 2027, with a large number of orders scheduled into 2028.
Although Amazon plans to invest about $220 billion in capital expenditure in 2026, supply remains constrained. Jassy said AWS is working to rapidly expand infrastructure to meet the continuous demand from AI labs and enterprises.
According to Amazon's financial report, the company's compute cloud backlog in Q2 2026 was $496 billion, a year-on-year surge of 154%; and not only Amazon, but other major cloud compute players also recorded large backlog amounts and high year-on-year growth.
For example, Microsoft's cloud backlog was $678 billion, up 84% year-on-year; Oracle, Google Cloud, and CoreWeave had backlogs of $664 billion, $514 billion, and $104 billion, respectively, up 84%, 46%, and 246% year-on-year.
The total backlog of the above five cloud giants is already close to $2.5 trillion.
Some views hold that with overseas cloud vendors' capital expenditure remaining high and domestic compute capacity accelerating its uptake, the industry chain's prosperity is expected to continue rising.
Huaxi Securities believes that domestic compute demand remains highly prosperous, the medium- and long-term logic of domestic compute "rising volume and price, domestic substitution uptake" is solid, and it is optimistic about opportunities in the compute leasing and AIDC markets.
The growth curve on the demand side is equally steep.
Shanxi Securities pointed out in a special report on compute leasing that the supply-demand mismatch in compute leasing remains severe. According to TrendForce forecasts, the total capital expenditure of the world's top nine cloud vendors in 2026 will reach about $830 billion, up 79% year-on-year; IDC expects that from 2026 to 2031, the annual Token consumption of domestic enterprise agents is expected to achieve an exponential leap of more than 30 times per year on average.
(Source: East Money Research Center) Middle of the body Embedded advertisement