Amazon’s market cap nears $3 trillion after AWS posts 37% growth, driving 61% of operating income in Q2.
Amazon (NASDAQ: AMZN) stock reached a new all-time high of $287, lifting its market capitalization to nearly $3 trillion. The rally follows a 19% year-to-date gain, fueled by robust quarterly earnings and accelerating growth in Amazon Web Services (AWS).
AWS revenue grew 37% in the quarter ending June 30, its fastest pace in 18 quarters. The segment contributed $16.6 billion of the company’s $27.5 billion in operating income, or 61%. CEO Andy Jassy noted that Amazon’s AI and chips businesses each surpassed $25 billion in annual run rates.
The company exceeded earnings and revenue expectations, reinforcing investor confidence despite heavy AI-related spending. Shares remain a top performer in the S&P 500 this year.