In Amazon‘s 2026 second-quarter earnings call on July 30, CEO Andy Jassy forecast that capital expenditures would likely reach $220 billion for the year. That’s up from a previously expected $200 billion, which was attributed to higher memory costs.

Still, Jassy said that increasing spending on artificial intelligence (AI) infrastructure may not be enough to keep up with demand:

Even at that amount, we will still not have enough capacity to meet all the demand we have in 2026, and I believe this dynamic will also be true in 2027, too. In fact, the demand we already have for 2028 is striking.

Seemingly, that would be good news for Micron Technology (MU -5.65%), as its high bandwidth memory offerings play a key role in AI…