Amazon.com Inc reached a $2 trillion market valuation for the first time, driven by enthusiasm around artificial intelligence and potential interest rate cuts. The stock rose 3.9% to $193.61, placing Amazon among other tech giants like Microsoft, Apple, Nvidia, and Alphabet in the $2 trillion club.
Robust gains in U.S. stock indexes this year, fueled by AI optimism and potential Federal Reserve rate cuts, have propelled Amazon’s shares up by over 26%. Amazon Web Services, the largest cloud services provider, has seen growth resurgence due to AI technology adoption. Additionally, Amazon’s investments in AI startup Anthropic and robotics firm Figure further position the company to capitalize on the AI boom.
Tags: #Amazon #StockMarket #AI #Technology #MarketValuation #InterestRates #CloudServices
