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Amazon Surpasses $3 Trillion Mark Amid Cloud and AI Growth

Guavy AI Editorial Team
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AMZN
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Amazon has become the seventh company to reach a market capitalization of $3 trillion, with its shares rallying after strong earnings and signs that the AI boom is fueling demand for its cloud-computing business.

The stock climbed 5.5% to a record $286.20, extending its year-to-date gain to more than 23%, following Amazon's strongest cloud growth in over four years and an increased annual capital-spending forecast.

Amazon's AI investments have been a major focus for the company, with it disclosing a new investment in Anthropic in April, following an earlier pledge to invest up to $50 billion in OpenAI.

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