Squawk on the Street Amazon's AI Spending Plans, A Bitcoin Strategy, & LIVE: Affirm CEO Talks Earnings 2/6/26
18 snips
Feb 6, 2026 
Max Levchin, co-founder and CEO of Affirm, a fintech innovator in Buy Now Pay Later. He discusses Affirm's strong merchant growth, its AI-driven underwriting approach, and new partnerships expanding addressable markets. The conversation also touches on pricing philosophy and why Affirm believes its underwriting edge is durable.
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Amazon's Massive AI-Focused Capex Push
- Amazon plans to invest about $200 billion in capital expenditures, mostly in AWS to serve AI workloads.
- Analysts worry this pushes 2026 into negative free cash flow unless the spending produces rapid monetization.
Custom Chips Signal Cost Focus
- Amazon's choice of Marvell-based custom chips signals a cost-conscious strategy versus relying on NVIDIA.
- Jim Cramer warns cheaper chips reduce gating costs but may reflect margin pressure for Amazon.
Prefer Cloud Players With Strong Cash
- Consider buying Alphabet aggressively as a way to play cloud exposure without Amazon's negative free cash flow.
- Favor companies with strong cloud backlogs and healthier cash profiles.
