Cloud giant Amazon (AMZN) reported its fourth quarter results after the bell on Thursday, as a miss on its Q1 operating income estimate and a massive expansion in capex for 2026 sent shares plunging more than 9.5% in premarket trade.

Amazon said it anticipates Q1 operating income of between $16.5bn and $21.5bn (£12.2bn and £15.85bn), below analysts’ expectations of $22.2bn. On top of that, the company said it will spend upward of $200bn on capex for the year – a massive jump from the $125bn Amazon was set to spend in 2025.

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“With such strong demand for our existing offerings and seminal opportunities like AI, chips, robotics and low-earth orbit satellites, we expect to invest about $200bn in capital expenditures across Amazon in 2026, and anticipate strong long-term return on invested capital,” CEO Andy Jassy said in a statement.

For the quarter, Amazon saw earnings per share (EPS) of $1.95 on revenue of $213.4bn, compared with the $1.96 and $211.5bn analysts were anticipating according to Bloomberg consensus estimates.

Amazon’s all-important AWS segment saw revenue of $35.6bn versus expectations of $34.9bn.

The company’s advertising revenue topped $21.3bn, while online store sales hit $83bn.

Jeep and Peugeot maker Stellantis saw its stock crater in early trade on Friday, down more than 14% in Milan as it confirmed it has sustained a €22.2bn (£19.3bn) charge for the second half of last year as part of a strategic overhaul.

The carmaker said the shakeup was aimed at aligning its vehicle offerings with customer demand.

The charges include €6.5bn in cash payments, and mean there will be no dividend for 2026 due to the full-year net loss.

Bitcoin’s (BTC-USD) price against the dollar slid below the $65,000 mark, selling off 9.4% compared with the previous 24 hours as crypto winter tightens its grip. Its recent price movements bring the digital asset to 16-month lows, erasing the gains made since Donald Trump took office with a pro-crypto mandate.

On Thursday, Bitcoin had tested the $60,000 mark, and is now on track to shed nearly 16% for the week.

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Crypto has erased nearly $1tn in total market value in the last 30 days, according to data provider CoinMarketCap, which marked sentiment as in a state of “extreme fear”.

Investors have fled from bitcoin into less risky assets. Its fortunes have largely tracked the stock market and tech stocks in particular, which have been rocked this week by fears that the AI funding boom may not be sustainable.