AWS is ‘booming,’ but Amazon’s free cash flow turns negative on record AI spending

AWS CMO Julia White, left, and CEO Matt Garman at an event in April. (GeekWire File Photo / Todd Bishop) Amazon Web Services revenue grew 37% last quarter, its fastest pace since the end of 2021, but the company is spending so much on data centers and infrastructure to fuel that growth that its free cash flow for the past 12 months turned negative for the first time since 2023. Overall, the tech giant reported $200.6 billion in revenue for the second quarter , up 20%, with operating income of $2