Amazon Surges Past $3T Valuation on Strong Earnings and AWS Growth

Amazon's market value surged past $3 trillion for the first time on Monday after investors reacted positively to its stronger-than-expected earnings report.

The company's shares jumped nearly 5% during trading, lifting its valuation above the milestone and extending a rally that began after last week's quarterly results.

Amazon's cloud computing business, Amazon Web Services (AWS), was a major catalyst for the surge, with revenue rising 37% to $42.2 billion in the quarter, beating Wall Street expectations of roughly 31% growth.

AWS generated approximately 61% of Amazon's operating profit, underlining its importance to the company's earnings.