Amazon (NASDAQ: AMZN) fell about 4.6% on Thursday, and the company itself didn't report a thing. Alphabet bumped its 2026 capital spending plan to as high as $205 billion on Wednesday, and Tesla told investors its own capital spending will exceed $25 billion this year. It has an AI (artificial intelligence) spending plan as big as any of them, at about $200 billion in expected capital expenditures for 2026. Amazon Web Services, the company's cloud computing business, grew revenue 28% year over year in the first quarter to $37.6 billion. What could override Thursday's worry on July 30 is straightforward: AWS growth accelerating even more, and a capital spending plan that doesn't lurch higher.