Amazon's market value exceeds $3 trillion
Amazon's market capitalization has surpassed $3 trillion for the first time, after its stock surged by 4.91% to reach $284.91. This rise was driven by strong quarterly results and rapid growth in the cloud computing sector. The company achieved a record-breaking revenue of $200.6 billion in the second quarter, representing a 20% year-over-year increase, with Amazon Web Services (AWS) growing by 37% to $42.2 billion—more than 60% of the operating profit, which amounted to $27.5 billion. Despite significant spending on AI infrastructure and future technologies, the company's profits remained high, with expectations of further growth and revenue in the third quarter. Meanwhile, its investments are focused on strengthening its position in the AI race, even as expenses pressure liquidity.
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