Quick ReadGarman declared AWS capacity "spoken for" through 2028, and AMZN posted 37% growth, its fastest in 18 quarters, with shares surging 20% in five sessions. AWS's AI and Chips businesses each eclipsed $25 billion run rates at triple-digit growth, with UBS projecting AWS acceleration to 48% next year. Amazon Web Services (AWS) CEO Matt Garman spent Monday on Bloomberg Technology arguing that AWS's growth is only getting started. AWS Q2 operating margin came in at 39.4%, and capital expenditures reached $54.208 billion in the quarter, a 68.44% year-over-year jump. UBS estimates AWS growth will accelerate to 48% next year as Trainium scales with some help from OpenAI.