Amazon Hits $3 Trillion Valuation as AWS Posts "Home Run" Quarter Driven by AI Demand

Amazon stock soared over 15% following a blockbuster Q2 earnings report that pushed the company's market valuation past $3 trillion for the first time. The rally was fueled by exceptional performance in its Amazon Web Services (AWS) division, which posted a 36.7% year-over-year revenue increase to $42.2 billion—its fastest growth in 18 quarters. The results successfully quashed Wall Street's fears that Amazon's massive AI infrastructure spending (now projected at $220 billion for the year) would hurt profitability, proving instead that the cloud giant is already monetizing the AI boom at a massive scale.

https://finance.yahoo.com/markets/stocks/article/amazon-stock-soars-15-as-e-commerce-giants-aws-cloud-business-booms-in-home-run-quarter-122456315.html