Amazon surges past US$3tril in market value for first time
Shares of the tech giant were up 5.2% at US$285.75 in early trading, lifting the company's market value to about US$3.1 trillion.
Amazon has achieved a market value surpassing US$3 trillion for the first time, following a strong earnings report last week. The tech giant's shares were up 5.2% to US$285.75 in early trading, pushing its valuation to approximately US$3.1 trillion. Amazon's robust performance in its AI-related divisions, particularly in its AI cloud business and chip segment, is credited for this significant milestone.
The company's cloud division, Amazon Web Services, reported a 37% revenue increase to reach US$42.2 billion. CEO Andy Jassy has expressed confidence that the business could become a trillion-dollar annual revenue enterprise. Industry experts describe Amazon's recent financial results as "broadly reassuring," noting the company's strong revenue growth, increasing margins, and mounting backlog from the four leading AI "hyperscalers."
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