Amazon, Alphabet, Microsoft Race to Build AI Chips

Amazon, Alphabet, and Microsoft each design their own AI processors and push them deeper into data centers. Amazon's custom silicon business topped a $20 billion annual revenue run rate in Q1 2026. CEO Andy Jassy said the operation is now one of the top three data center chip businesses globally. None of this has slowed Amazon's appetite for Nvidia, as the company plans to spend about $200 billion on capital expenditures in 2026.