Amazon Tops $3 Trillion as AWS Growth Drives Stock Surge

Amazon's stock price hit a record high of $287.16 on Monday, pushing its market value above $3 trillion for the first time.

This milestone makes Amazon one of only five public companies in history to achieve this feat, alongside Apple, Microsoft, Alphabet, and Nvidia.

The surge followed a strong second-quarter earnings report last week, with Amazon Web Services (AWS) leading the way by accelerating growth and reaching an annualized revenue run rate of $169 billion and a 39% operating margin.

Snowflake's stock also reached a four-year high of $315.42 on Monday, driven by growing optimism about its role in enterprise AI.

Bristol-Myers Squibb shares climbed to a three-year high after reports emerged of potential merger talks with AstraZeneca, creating one of the world's largest pharmaceutical companies if the deal goes through.