Business & Markets
Amazon tops $3tn market value for first time
Amazon's market value rose above $3 trillion for the first time on Aug. 3 as its shares gained for a second straight session after last week's earnings report.
The technology company's shares were up 5.2% at $285.75 in early trading, lifting its valuation to about $3.1 trillion.
Amazon posted quarterly profits of more than $62 billion, helped by large increases in artificial intelligence-related cloud and chip businesses. Amazon Web Services revenue rose 37% to $42.2 billion.
Chief executive Andy Jassy said last week that AWS could become a "trillion-dollar annual revenue business for us in time."
Giovanni Mazzariello, an equity specialist at UniCredit, described last week's results from Amazon and other AI hyperscalers as "broadly reassuring," citing revenue growth, wider margins and growing backlogs.
Update
Amazon shares were up 5.2% at $285.75 in early trading, lifting valuation to about $3.1 trillion.
Amazon Web Services revenue rose 37% to $42.2 billion.
Amazon chief executive Andy Jassy said AWS could become a trillion-dollar annual revenue business in time.
UniCredit equity specialist Giovanni Mazzariello described recent results from Amazon and other AI hyperscalers as broadly reassuring.
Source note: AFP news report published on 3 August 2026 at 14:59:03 UTC.
Update
Amazon shares were up almost 5% at $284.49 in early trading.
The rise lifted Amazon's market value to about $3.1 trillion.
The shares rose for a second straight session after last week's earnings report.
Amazon posted quarterly profits of more than $62 billion, with increases in AI-related cloud and chips businesses.
Source note: AFP news report published on 3 August 2026 at 13:55:07 UTC.
Uncertainty notes
The share price and market valuation were early-trading figures and could change during the session.
Jassy's comment about AWS reaching trillion-dollar annual revenue was a prediction, not a current revenue figure.
Source
AFP news report published on .