Amazon Reaches $3 Trillion Market Cap, Entering Top Five Most Valuable Companies

According to Reuters, Amazon's shares rose 15% on Friday after strong quarterly earnings, pushing the company's market capitalization above $3 trillion. This makes Amazon the fifth company in the world to reach this milestone. Key growth drivers include its cloud division Amazon Web Services, which showed its highest growth rate in recent quarters and remains the main profit source, and Amazon's increased capital expenditure forecast by 10% to $220 billion. The company also announced in April plans to invest $25 billion in Anthropic, the developer of the AI model Claude, and up to $50 billion in OpenAI's infrastructure. It took Amazon just over two years to grow its market cap from $2 trillion (first reached in June 2024) to $3 trillion. Before Amazon, Apple, Microsoft, Alphabet, and Nvidia had already reached $3 trillion. Nvidia remains the world's largest company with a $5 trillion market cap, and Apple recently became the second company to hit $5 trillion, overtaking Nvidia.