Bloomberg Tech · Oct 30, 2026
With Matt Garman, CEO of AWS
Photo via aboutamazon.com
Matt Garman, CEO of AWS, told Bloomberg Tech that Amazon's cloud unit is a $184 billion run-rate business growing 39%, and that it has accelerated for six quarters in a row. Businesses of that size usually slow as they grow. Matt expects AWS to grow faster than 40% in each of the next two years.
"It's super interesting because we've never seen a business grow this fast. We've never seen a technology grow this fast. And for those of us that are on the inside and can see what the technology is capable of, it really is transformative across every single thing that our customers are doing." — Matt Garman
Matt runs the business that Amazon CEO Andy Jassy has said could reach $1 trillion in revenue within five to ten years, and he sees the customer commitments that would get it there.
The full segment is covered here so you can skip it.
Here are the 7 numbers that matter.
Key Takeaways
AWS is a $184 billion business growing 39%, and Matt expects 40%-plus in 2027 and 2028
$580 billion of committed spending sits in the AWS backlog, and much of it is contracted
AWS says its demand is spread across industries, not concentrated in a couple of AI labs
More customers committed to billion-dollar annual spends this year than ever before
Much of Anthropic's AWS bill is paid by AWS's own customers running Claude through Bedrock
AWS is installing an accelerator chip every 14 seconds and is still short of supply
AWS will sell its Trainium chips outside its own data centers from next year
1. A $184B Business Growing 39%
Ed Ludlow, who anchors Bloomberg Tech, opened by putting Jassy's trillion-dollar idea to Matt. Matt answered with where the business stands today.
AWS has accelerated for six straight quarters at a size where growth normally slows
"I think, look, if you look at the business that we have today, we're $184 billion run rate business that's growing 39%. And we've accelerated every single quarter for the last six quarters ... it's very unheard of for a company or a business of that size to be growing at 39%." — Matt Garman
He expects that pace to continue through 2027 and 2028, based on demand and on what customers are telling AWS.
"As we look forward to the demand we're seeing and what we hear from customers, we see 40% plus growth rates for the next two years as well. As you start to compound on that really large business, that gets really big really quickly." — Matt Garman
