Amazon Web Services (AWS) is growing at the fastest rate since 2022, said Amazon CEO Andy Jassy during the Q3 2025 earnings call this week.

Jassy also told shareholders that the firm added 3.8GW of data center capacity over the last 12 months.

Public cloud market leader AWS enjoyed Year-on-Year (YoY) revenue growth of 20.2 percent in the last three months, the best growth rate seen in 11 quarters. The previous quarter saw a 17.5 percent bump.

The larger growth rate was highlighted during Jassy's initial remarks, notable after the previous quarter saw questions raised about AWS having a slower growth rate than its two biggest cloud rivals, Microsoft Azure and Google Cloud.

Jassy noted: "It’s very different having 20 percent year-over-year growth on a $132 billion annualized run rate than to have a higher percent growth rate on a meaningfully smaller annual revenue, which is the case with our competitors."

AWS revenue for Q3 was $33 billion, up from $30.9bn in Q2.

In comparison, Google Cloud saw revenues of $15.2bn for this quarter, up 34 percent YoY, while Microsoft's overall cloud revenue was $49.1bn, up 25 percent, and Intelligent Cloud (including Azure) brought in $30.9bn, up 27 percent.

Jassy noted that AWS's backlog grew to $200bn by the end of the quarter, and doesn't include "several unannounced new deals in October, which together are more than our total deal volume for all of Q3."

With this increasing demand, AWS has been building out its data center capacity rapidly. According to Jassy, the company has added 3.8GW of power in the last 12 months. "To put that in perspective, we're now double the power capacity that AWS was in 2022, and we are on track to double again by 2027," Jassy said.

In Q4, the company expects to bring another gigawatt of capacity online.

Within that, this quarter saw AWS launching a new cloud region in New Zealand, and a second "Secret Region" in the US.

Speaking on the company's chip business through which it offers the Trainium, Inferentia, and Graviton chips, Jassy said that Trainium2 is seeing significant demand.

"[It] is now a multi-billion-dollar business that has grown 150 percent quarter over quarter. Today, Trainium is being used by a small number of very large customers, but we expect to accommodate more customers starting with Trainium3."

Jassy later revealed that Trainium3 should preview at the end of 2025, and rollout through 2026. The company estimates that Trainium3 will be around 40 percent better than Trainium2.

Earlier this week, AWS brought its Project Rainier cluster online, a cluster containing nearly 500,000 Trainium2 chips for use by Anthropic. The AI company is now using the cluster, which aims to expand to more than 1 million chips by year's end.

The earnings call revealed that Project Rainier will remain exclusive to Anthropic, but that other customers have expressed an interest in employing large clusters of Trainium chips.

Jassy reiterated that AWS would continue to work with Nvidia and "order very significant amounts" of GPUs, as well as with Intel and AMD.

Quarterly operating income at AWS was $11.4bn, up from Q2's $10.2bn, which CFO Brian Olsavsky put down to "continued growth coupled with our focus on driving efficiencies."

Capex for the quarter, meanwhile, was high - as has been seen reflected across all of the Big Three hyperscalers' earnings this quarter. Capex was $34.2bn in Q3 for Amazon, bringing the fiscal year-to-date total to $89.9bn. The previous quarter had a capex of $31.4bn. Google's capex for the latest quarter was $24bn, higher than previous quarters, and Microsoft's $34.9bn, up from $24.2bn the previous quarter.

According to Olsavsky, the high capex is mostly related to AWS, with investment in its custom silicon Trainium, as well as "tech infrastructure to support our North America and international segments." Capex for the full year is predicted to reach $125bn, significantly more than the previously estimated $100bn. Olsavsky said 2026 is likely to be even higher.

Unmentioned during the earnings call was AWS's major outage earlier this month that brought down several websites, and even some government services in the UK.

Following the earnings call, Amazon's share rose some 11.55 percent.