Amazon Hits $3 Trillion Mark as AI-Driven Cloud Growth Fuels Stock Rally

Amazon's market capitalisation surpassed $3 trillion for the first time on Monday after strong earnings and signs that the AI boom is fueling demand for its cloud-computing business.

The company's stock climbed 5.5% to a record $286.20, extending its year-to-date gain to more than 23%.

This growth is attributed to Amazon's investments in expanding its AI infrastructure, including a new investment in Anthropic and an earlier pledge to invest up to $50 billion in OpenAI.

Amazon joins other tech giants like Apple, Microsoft, Alphabet, and Nvidia that have reached the $3 trillion market capitalisation milestone in the past. However, Nvidia is currently the world's largest company by market capitalisation at close to $5 trillion.