Amazon market cap tops $3 trillion on cloud, AI growth
Amazon's market capitalization crossed $3 trillion for the first time, with stock trading at a record high of $286.20.
Shares surged 15% on Friday after Amazon reported its fastest cloud revenue growth in over four years and raised its annual capital expenditure forecast.
Amazon and Microsoft are the only Magnificent Seven companies whose heavy AI investments have been rewarded by investors, while Tesla, Alphabet, and Meta saw pressure.
Amazon has invested billions in AI infrastructure, including a fresh investment in Anthropic in April and a commitment to invest up to $50 billion in OpenAI this year.
Amazon took just over two years to add $1 trillion to its market value since crossing $2 trillion in June 2024, joining Apple, Microsoft, Alphabet, and Nvidia in the $3 trillion club.
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