Verizon and AWS Agree to $2 Billion AI Deal

Verizon and Amazon Web Services agreed to a $2 billion AI deal to expand distributed computing as Verizon raised its 2026 outlook.

Verizon announced the agreement Monday alongside its third-quarter results. It has now increased its full-year outlook in three consecutive quarters.

The carrier recorded 406,000 postpaid phone net additions in the third quarter, more than 820% above the year-earlier figure. That was its strongest third-quarter result in five years.

Revenue rose 1.5% from a year earlier to $34.31 billion. Non-GAAP earnings were $1.31 per share, 4 cents above estimates. Mobility and broadband service revenue grew, while wireless equipment revenue fell 9%.