Amazon Set to Surpass Nvidia as World's Most Profitable Company by 2030

A recent UBS projection estimates Amazon's net income to reach $509 billion by 2030, surpassing Nvidia's projected $450 billion. This would make Amazon the world's most profitable company.

The projection is based on AWS growth reaching 48% in 2027 as OpenAI and Anthropic lock in multi-gigawatt Trainium chip contracts. AWS already posted 37% year-over-year growth in Q2 to $42 billion at a 39% margin.

AWS has been accelerating for four straight quarters, with operating income compounding at 43% year over year. UBS models AWS growth as the key driver of Amazon's profit ramp, which would make the company's net income sixfold from 2025's $78 billion.