Ben Horowitz says Andy Jassy told him Amazon's compute is sold out beyond 2028

Andreessen Horowitz co-founder Ben Horowitz said on the All-In podcast released on 17 October 2026 that Amazon CEO Andy Jassy told him compute capacity is sold out beyond 2028 [1]. Horowitz used the remark to argue that AI, unlike the dot-com bubble, does not lack demand, even as neocloud stocks fell [1].

What did Horowitz say Jassy told him?

Horowitz said he told Jassy that "we're out of everything" until 2028, and that Jassy answered it was beyond that [1].

Horowitz compared it with the internet bubble, when bandwidth was overbuilt before enough consumers were online [1]. He said a16z is not invested in any neocloud because the debt structures scare him [1].

Why are investors worried about CoreWeave?

Jason Calacanis said CoreWeave, Nebius and other neoclouds were all down about 20% after CoreWeave's bonds began to sell off, and that the yield on some of its debt had hit 15% [1]. Chamath Palihapitiya said CoreWeave's default risk spiked to about 953 basis points this week and that three companies make up 75% of its revenue [1].

David Sacks countered that the higher implied yield does not raise CoreWeave's own cost, since it still pays its 9.6% coupon [1]. He named payback period as the metric to watch: CoreWeave says 2.5 years on a typical five-year deal, while SpaceX pays back in roughly one year, by his account [1].

Our read

Opinion: "Sold out until 2028" and "neocloud bonds at distressed yields" can both be true. The scarce assets are chips and power, and the risk sits with whoever borrowed to rent them out.

What we could not verify

• Amazon has not confirmed Jassy's reported remark; it is Horowitz's account of a private conversation.
• Market figures were stated by the hosts on air; we did not check them against bond or share-price data.
• Quotes come from an automatic transcript and may differ slightly from the audio.