Amazon crossed a $3 trillion market capitalization for the first time on Monday, becoming the fifth publicly traded company ever to reach the milestone. Shares rose roughly 5% in early trading, pushing the stock to a record high following strong second-quarter earnings reported last week.
The rally was fueled by robust results across the business. Total revenue of $200.61 billion surpassed Wall Street expectations, while net profit more than tripled to $62.6 billion compared with a year earlier. Amazon Web Services, the company's cloud division, posted $42.2 billion in quarterly revenue, with the segment generating the bulk of operating profit despite accounting for roughly a fifth of total sales.
CEO Andy Jassy raised the company's 2026 capital expenditure forecast to $220 billion, up from $200 billion projected in February, citing rising memory prices tied to artificial intelligence infrastructure buildout. Jassy said Amazon is well positioned to capitalize on AI growth. Nvidia remains the world's most valuable company with a market cap approaching $5 trillion. Amazon first reached $2 trillion in June 2024.