Amazon crossed the $3,000 billion market capitalization mark for the first time on Monday August 3, driven by solid results and the rise of artificial intelligence. The group’s cloud propels the stock to a record high, as Wall Street once again distinguishes AI winners. Is the technological wave giving the green light to the feeling of risk?
In brief
- Amazon exceeds $3 trillion in capitalization for the first time, becoming the fifth company to reach this threshold.
- AMZN stock closed up 5% at $285.01, up more than 23% year to date.
- AWS expands cloud and chip partnerships with OpenAI, Anthropic and Meta, at the heart of AI demand.
Amazon joins the very exclusive club of 3,000 billion
Only a few companies have ever raised their flag above $3 trillion. Apple, Microsoft, Alphabet and Nvidia have led the way. Amazon has just entered, becoming the fifth to cross this milestone, almost two years after having exceeded 2,000 billion in June 2024. The jump of 1,000 billion additional in just over two years reveals the extent of the revaluation.
This same appetite for artificial intelligence also drives AI tokens on crypto markets, whose speculative momentum has been the subject of recent analyzes in the media. AMZN stock closed Monday up 5% at $285.01, an all-time high, after already rising more than 23% since Jan. 1.
The previous week, the stock had posted its largest daily increase since April 2012, following the publication of the strongest growth in its cloud business in more than four years.
Amazon’s cloud, a silent engine of growth
The Amazon Web Services division fuels the group’s profits and captures demand from AI giants. AWS has expanded its partnerships around cloud infrastructure and chip supply, with deals including OpenAI, Anthropic and Meta. This relay reassures investors, while fear of a drop in AI spending weighed on the sector before the results season.
The Reuters agency, which published this datanotes that Microsoft confirmed last week to continue generating cash flow through 2027, with investments lower than Wall Street expectations.
Other hyperscalers followed suit on Monday: Microsoft gained 4%, Meta 6%, Alphabet 3.6% and Oracle 5%. Microsoft even recorded its largest daily increase since 2008.
Wall Street finally decides between the AI giants
The earnings season has decided between those who know how to monetize AI and those who finance it at a loss. Tesla and Alphabet reported negative cash flow last quarter, a first for Alphabet, while Meta saw its free cash flow collapse by 91%. The stock market now rewards capital discipline rather than the sole promise of growth.
“ Amazon is undoubtedly the most emblematic company in today’s economy. It is both a success in the field of consumption and a success in that of AI said Mark Hackett, chief market strategist at Nationwide.
Mark Hackett notes a fragmentation of the “Mag 7”: long treated as a block, these values are now negotiated separately. Nvidia still dominates the ranking with a capitalization close to $5,000 billion, far ahead of its pursuers.
In short, Amazon is entering the $3 trillion market with a trajectory that owes everything to its cloud and AI. The redistribution of cards between hyperscalers confirms a more selective market, where only profitable models keep their promise. This technological groundswell also strengthens the link between AI and bitcoin miners, whose cloud contracts are multiplying. The value is no longer read from the promise, but from the flow.
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