Amazon Market Value Crosses $3 Trillion For First Time As Shares Rise 5%

Amazon shares reached a new high, briefly surpassing $3 trillion in market value. This surge followed a strong earnings report and increased investor confidence in artificial intelligence. The company's cloud services showed significant growth, exceeding expectations and…

Amazon Web Services has benefited from expanding its partnerships, including cloud infrastructure and chip supply deals with OpenAI, Anthropic and Meta, among others

Tech giants Apple, Microsoft, Alphabet and Nvidia are the other four companies to have previously recorded a market value of $3trn.

Amazon posted quarterly profits of more than $62 billion thanks to huge increases in two artificial intelligence-related divisions: AI cloud business and chips.

Shares of the Seattle-headquartered e-commerce and cloud giant had surged 15% on Friday after the company reported its fastest cloud revenue growth in over four years and increased its forecast for annual capital expenditure.

Amazon crossed a $3 trillion market valuation after strong earnings and robust cloud growth reinforced confidence in its AI investments. Shares hit a record high, while investors rewarded the company for demonstrating improving returns from heavy AI infrastructure spending.

Amazon achieved a three trillion dollar market capitalisation for the first time. This milestone places the company among Wall Street's top giants. Renewed artificial intelligence optimism significantly boosted technology stocks to new highs. Amazon's shares saw a notable…