Amazon Surpasses $2 Trillion with AI Power
Amazon Surpasses $2 Trillion with AI Power, Amazon has achieved a new milestone, reaching a market value of $2 trillion for the first time in its history, driven by a massive increase in its stock value thanks to advancements in artificial intelligence. Amazon's shares rose 3.6% on Wednesday, bringing the stock price to $193.04, and making the company join the elite group that has surpassed this significant market value threshold.
Amazon's shares have seen a notable rise since the announcement of its first-quarter results, where the cloud unit recorded its highest sales growth in a year. As a result, the company's shares returned to record levels in April and continued to rise in June, recovering losses and adding 27% to their value this year.
This surge was due to the company's cost-cutting strategies and business restructuring, along with the accelerating growth in Amazon Web Services. Dan Romanoff, an analyst at Morningstar Investment Services, said: "Amazon's strong stock performance over the past six to nine months is partly due to its oversold position at the end of 2022."
With this achievement, Amazon confirms its position as a leading technology company, leveraging the opportunities provided by artificial intelligence to enhance its growth and achieve record profits.
