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Amazon Cloud Division Could Reach $1 Trillion in Revenue by 2035

Guavy AI Editorial Team Published August 18, 2026

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Morgan Stanley analyst Brian Nowak believes Amazon's cloud division, AWS, could reach $1 trillion in annual revenue within eight to ten years. This would be a significant increase from its current level of around $170 billion.

AWS is currently generating substantial growth due to increasing demand for computing power driven by artificial intelligence (AI). The company has added 3.8 gigawatts of data-center capacity over the past year and plans to double its power capacity by the end of 2027 compared to 2025 levels.

Nowak estimates that each incremental watt currently generates about $8 in revenue for Amazon, but believes this could increase to $12 per watt through technological advances. This would support a share price of $500 by the end of 2027, roughly double its current level.

Amazon Cloud Division Could Reach $1 Trillion in Revenue by 2035

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