Amazon tops $3 trillion market cap after AWS-fueled earnings rally
What's new: AWS revenue hit $42.2 billion, and Amazon raised its 2026 capital spending outlook to $220 billion on AI demand.
Amazon crossed the $3 trillion market-value mark for the first time Monday as its stock extended a sharp post-earnings rally to a record high. The move followed a second-quarter report that beat Wall Street expectations, helped by faster growth at Amazon Web Services as customers spent more on artificial intelligence capacity. Amazon reported adjusted earnings per share of $1.97 on revenue of $200.61 billion, while AWS revenue reached $42.2 billion. CEO Andy Jassy told investors the company now expects capital expenditures to total $220 billion this year, up from the $200 billion forecast in February, citing rising memory costs and demand that still exceeds available capacity.