Amazon is buying billions in Nvidia AI systems it can't yet turn on

What happened: Amazon's AWS is taking early delivery of Nvidia GB300 server racks before data centers are ready, staging some in warehouses due to power shortages under a new Early Rack Receipt process. Key numbers: About $5 billion in GB300 racks expected at US facilities, plus roughly $3 billion more each month. Why it matters: Buying hardware earlier ties up billions before it generates cloud revenue, and free cash flow turned negative last quarter for the first time since 2023. Amazon says staging hardware near sites is standard practice.

Amazon buying billions in Nvidia AI systems it can't yet turn on signals major AI capex.

Amazon buying billions in Nvidia AI systems it can't yet turn on signals major AI capex. — impact context not separately stored; see What changed.