Amazon market cap crosses $3 trillion as AI, cloud growth power stock rally

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

Amazon Web Services posted $42.2 billion in second-quarter revenue, topping analyst expectations by more than $1.6 billion

Shares of Amazon hit a new all-time high Monday, putting its market cap over $3 trillion.

The Amazon logo is seen at its newly inaugurated office in Bengaluru, India, Feb 23, 2026. (Photo: REUTERS/Priyanshu Singh) 01 Aug 2026 05:43AM NEW YORK: Wall Street stocks charged higher Friday (Jul 31) behind strong earnings from Amazon that offset the drag from higher US Treasury yields.Shares of Amazon surged 15.3

Nasdaq opens higher as Amazon surge offsets Apple decline  Reuters