Amazon reaches $3 trillion market cap as AI and cloud growth drive stock rally
On Monday, Amazon's market value surpassed $3 trillion for the first time, driven by strong earnings performance and increased demand from its cloud-computing services. The company’s shares rose to a record high of $286.20, with gains exceeding 5.5% on the day and over 23% year-to-date. Amazon's stock had surged nearly 15% in the previous session after reporting robust growth in its cloud division—the strongest in more than four years—and raising its capital spending forecast. The company is one of only two among the so-called 'Magnificent Seven' to see investor confidence grow amid AI investments, with Microsoft being the other. Amazon has committed significant resources toward building out its artificial intelligence infrastructure and recently announced a new investment in Anthropic following an earlier $50 billion commitment to OpenAI. Amazon achieved this milestone valuation just over two years after reaching $2 trillion for the first time in June 2024, reflecting rapid growth. Other companies that have reached or exceeded a $3 trillion market cap include Apple, Microsoft, Alphabet, and Nvidia—the latter currently being the world's largest company with nearly $5 trillion in value.
Tickers: $AAPL $AMZN $META $MSFT $NVDA $TSLA
Topics: AI growth cloud computing Magnificent Seven stock rally