Amazon’s deal to license some content from The New York Times for use on the tech giant’s artificial intelligence platforms will cost at least $20 million annually, The Wall Street Journal reported Wednesday.

Amazon (AMZN) will pay around $20M to $25M in licensing fees per year to The New York Times (NYT) to gain access to the news publisher's content under a multiyear AI deal, sources familiar with the matter told The Wall Street Journal on Wednesday.

Amazon reports Q2 2025 earnings Thursday, with investors watching for signs of AI-driven growth, AWS momentum, and how economic trends are affecting e-commerce.

The tariff deal between the U.S. and China helped Amazon stock rally back from April lows. But the stock is still chasing highs from early February and may have some questions to answer for investors before it can reach new heights.