Amazon plans to increase total capital spending to $220 billion in 2024, up from a prior $200 billion target announced in February and last year's $128 billion, with the additional outlays directed primarily toward artificial intelligence infrastructure. AWS revenue grew 37 percent in the April-June quarter, the fastest pace in 18 quarters, compared with 28 percent growth in the prior quarter. Shares rose more than 9 percent in after-hours trading following the announcement.