Amazon's Market Cap Tops $3 Trillion for the First Time, Hits Record High on Expanded AI Investment

【New York = Reporter Lee Byung-chul, Yonhap News Agency】 Amazon surpassed $3 trillion in market capitalization for the first time, driven by expanded investment in Artificial Intelligence (AI). The move came as Amazon Web Services (AWS), its cloud unit, posted results far above market expectations and the company decided to further increase capital expenditures (CapEx), boosting hopes for greater AI infrastructure investment.
Amazon shares rose by as much as 4% intraday on the 3rd, local time, setting a new all-time high. As a result, the company's market capitalization also climbed above $3 trillion for the first time. The day's gain was the largest since May 5.
Amazon said in its second-quarter earnings released last week that its cloud business grew faster than expected, supported by rising AI demand.
Earnings per share (EPS) came in at $1.97, beating the market forecast of $1.82. Revenue reached $200.61 billion, exceeding the expected $196.47 billion. In particular, AWS revenue totaled $42.2 billion, well above the $40.54 billion estimate compiled by market research firm StreetAccount.
After the earnings release, Amazon Chief Executive Officer (CEO) Andy Jassy said during a conference call that the company had raised its CapEx plan because memory prices were rising amid the construction of AI data centers. Amazon now plans to increase its CapEx for the year to $220 billion from the $200 billion it had outlined in February.




[email protected] Reporter Lee Byung-chul Reporter