As of Q4'25, Amazon's cash and short-term investments reached 123B USD, while its debt stood at 153B USD. This marks the highest cash position in the period, alongside a notable increase in debt compared to previous quarters. From Q1'23 to Q4'25, Amazon's cash and short-term investments generally trended upward, with significant jumps in Q4'23 and Q4'25. Debt, on the other hand, showed a gradual decline from 141B USD in Q1'23 to around 131B USD by Q4'24, before rising sharply to 153B USD in Q4'25. The data suggests seasonal cash accumulation in Q4 and a recent uptick in leverage, highlighting both improved liquidity and increased financial obligations at the end of the period.