Amazon Surpasses $3 Trillion Market Cap on Strong AWS Earnings
Amazon's market capitalization surpassed $3 trillion on August 3 for the first time in history, making it the fifth company to reach this milestone.
The surge was driven by Amazon Web Services (AWS), which posted a 37% year-over-year increase in revenue, reaching $42.2 billion in Q2 and beating analyst estimates of $40.54 billion.
AWS now runs at an annualized revenue rate of $169 billion, with a backlog of $496 billion - up 60% year-over-year - reflecting sustained enterprise demand for AI and cloud infrastructure.