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Amazon Hits $3 Trillion Valuation as AWS Drives Growth

Guavy AI Editorial Team
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AMZN
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Amazon's stock price surged to $278.87 on Monday, propelling the tech giant to a valuation of $3 trillion for the first time ever.

The primary driver behind this surge was Amazon Web Services (AWS), which saw revenue jump 36.7% year-over-year, marking its fastest pace of expansion in 18 quarters.

AWS now operates at an annualized revenue run rate of $169 billion, bolstered by a swelling contract backlog that reached $496 billion.

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