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Models & labs · Thesis 92 · settles Oct 29 · 6 days · rung 1/3

Will Amazon's revenue grow at least 12.0% in Q3 2026 versus Q3 2025?

How it settles

Compare revenue from Amazon's 10-Q or 10-K for the quarter ended September 30, 2026 with the quarter ended September 30, 2025 on SEC EDGAR. Yes if growth is 12.0 percent or more, no if below. SEC EDGAR, XBRL company facts of Amazon (Forms 10-Q and 10-K)

The exact question and the full rule

Did the revenue of Amazon for the quarter ended September 30, 2026 grow at or above 12.0% from the quarter ended September 30, 2025?

Compare the revenue that Amazon reports for the quarter ended September 30, 2026 with the quarter ended September 30, 2025, in its 10-Q or 10-K filing on SEC EDGAR. The answer is yes if growth is at or above 12.0%; no if it is below 12.0%.

If the source is late or silent: If Amazon has not filed by November 16, 2026, or a filing restates a period the rule reads, the test is inconclusive, and the Result says what was read and what was missing.

If no

The case against it

No, expects growth to slow toward analyst estimates near 12.2%, or dip below the 12.0% mark.

If yes

Inference demand is price-elastic

Yes, expects growth to stay strong, continuing the roughly 20% pace seen in the prior quarter.

50%
NoYes

No position, no money. The crowd, the Call and the machines appear after you lock your number.

The case · 7 people · 2 minutes
The case against it1 people argue noInference demand is price-elastic6 people argue yes
Stronger if no · 1 people

The case against it

Moses SternsteinJul 31

If demand for lower-cost tokens increases more rapidly than demand for high-cost tokens, the token-spend intensity index falls as a mathematical consequence, even though total token consumption and spending continue growing. This would occur as…

Stronger if yes · 6 people

Inference demand is price-elastic

Invest in AssetsSep 5

Cheaper inference unlocks use cases that were previously uneconomical, and the computational intensity of agent workloads multiplies demand even as the price per token falls, expanding the total addressable market and maintaining or growing revenue…

What would change the Call
  • Amazon's reported revenue for the quarter ended September 30, 2026 compared with the same quarter in 2025 would move the call.
The Call · Thesis 92

The house has not taken a side.

The dossier · 5 minutes
The machines' reasons

2 models ran this one. Their numbers and reasons appear after you lock yours.

The thesis

Will US data center electricity consumption, as reported by EIA, grow at least 15% year-over-year in the most recent full-year or twelve-month figure published before 2027-12-31?

Elastic inference demand translates into physical compute expansion, so data center electricity consumption keeps growing double-digit percentages despite per-token cost declines.