Disney’s Entertainment Model Stumbles as Amazon Doubles Down on AI Infrastructure Spending

Disney’s Entertainment Model Stumbles as Amazon Doubles Down on AI Infrastructure Spending

Quick Read AWS grew 20% to a $110B run rate while Disney’s flat revenue reflects streaming gains offset by 35% lower Entertainment operating income. Amazon spent $35.1B on capex in Q3 and plans over $75B in 2025 for AI infrastructure. Disney allocated $2.47B to capex. Amazon’s 24.3% return on equity nearly doubles Disney’s 12.2% due to recurring cloud revenue versus cyclical content performance. Nvidia made early investors rich, but there is…