Amazon Surpasses $3 Trillion Market Cap on Strong AWS Growth

Amazon's market capitalization has surpassed $3 trillion for the first time, driven by strong second-quarter results and accelerating growth at Amazon Web Services (AWS).

The company's stock gained about 5% on Monday, reaching a record high near $285 and giving it a market value of approximately $3.08 trillion during the session.

AWS generated $42.2 billion in second-quarter revenue, representing growth of 37% from the prior-year period, exceeding Wall Street's expectations by nearly $2 billion.

Amazon's AI and semiconductor businesses have each surpassed annualized revenue run rates of $25 billion, while its contract backlog increased to approximately $496 billion.