[Huachuang Computer | AI] Bottom Reached · Overseas Surge, MSFT & AMZN & OAI Validate AI Prosperity, Focus on Models and Domestic Chain 20260731

English summary

Yesterday, MSFT FY26Q4 results beat expectations on revenue, profit, and cloud, surging +15.51% afterward; today, AMZN FY26Q2 revenue, profit, cloud, and Capex all beat expectations, rising +9.53% after hours; OAI's July ARR greatly exceeded expectations; 1. MSFT: Revenue $90bn (+18%), net profit $35.8bn (+31%) both beat expectations. Azure +43% YoY, annual revenue surpassed $100bn for the first time; quarterly Capex $41bn (+69%), #2026 guidance indicates a clear ~$175bn computing power supply-demand gap; 2. AMZN: Revenue $200.6bn (+19.6%), net profit $62.6bn (+245%) significantly beat expectations. AWS accelerating, profit margins remain high; #quarterly Capex ~$45bn, full-year guidance has room for upward revision, self-developed chips continue to ramp; 3. ...