Amazon hits $3 trillion market cap on AI-driven growth

Amazon reached a market valuation of $3 trillion for the first time on Monday, August 3, 2026, joining an elite group of technology companies. The milestone was driven by a sharp rally in its stock price following a strong quarterly earnings report that highlighted robust growth in its cloud computing division, fueled by demand for artificial intelligence services.

Shares of the Seattle-based e-commerce and cloud giant rose more than 5 percent in early trading, pushing its market capitalization to approximately $3.1 trillion. The surge extended gains from Friday, July 31, when the stock jumped 15 percent after the company reported its strongest cloud revenue growth in over four years. Amazon posted quarterly profits exceeding $62 billion, with its Amazon Web Services (AWS) division reporting a 37 percent revenue increase to $42.2 billion.

CEO Andy Jassy said last week that AWS could eventually become a trillion-dollar annual revenue business. The results signaled to investors that the company's massive investments in AI infrastructure are translating into significant financial returns. Amazon and other tech giants, including Microsoft, Alphabet, and Meta, are collectively on...