Strong Results Push Amazon to $3 Trillion Market Capitalization

Amazon shares surged more than 5% on Monday, pushing the company's market capitalization above $3 trillion for the first time, buoyed by strong financial results that exceeded market expectations.

The company reported revenue of $200.6 billion in the second quarter, representing 20% ​​year-over-year growth. Cloud computing services (AWS) led this performance, with revenue surging 36.7%, the fastest growth rate in 18 quarters, reaching $169 billion year-over-year.

The positive results boosted analyst confidence, with several financial institutions raising their targets for Amazon stock, citing accelerating demand for cloud services and increasing returns from generative artificial intelligence (GAI) technologies. The company also announced a $35 billion investment in OpenAI, a move reflecting its continued aggressive expansion and strengthening its position in the AI ​​race.