Amazon's market value exceeded $2 trillion for the first time on Wednesday, becoming the fifth US company to exceed $2 trillion in market value.
On June 26th, the US stock market closed, and Amazon's stock price rose 3.9%. Since the beginning of this year, the company's stock price has accumulated an increase of over 26%.
Amazon's stock price expanded its gains after reports that the company plans to launch discount stores on its shopping website, which is reportedly competing with Temu and Shein.
Currently, Amazon founder Jeff Bezos has returned to second place on the Forbes Rich List, with a personal net worth exceeding $2010 billion. Ranked first is Tesla CEO Musk with a personal wealth of $212.8 billion, followed by luxury goods group LVMH leader Arnold with a personal wealth of $19.8 billion.
In the US stock market, Microsoft, Apple, and Nvidia currently have a market value exceeding $3 trillion, while Google and Amazon have a market value exceeding $2 trillion.
Market analysts believe that optimistic sentiment towards artificial intelligence and possible interest rate cuts by the Federal Reserve this year have driven demand for technology stocks.
Recently, the trading volume of US stocks has approached historical highs, mainly driven by super large cap stocks such as Nvidia and Microsoft, whose future cash flows will benefit from lower interest rates. Nvidia also contributed 35% of the total increase in the S&P 500 this year.
Amazon Cloud Technology (AWS) is the world's largest cloud service provider, and due to the surge in demand for artificial intelligence technology, AWS has recently increased its investment efforts. The company has also invested in artificial intelligence startups such as Aerospace and robotics company Figure. Anthropic recently released a benchmark version of GPT-4o, with some performance surpassing its competitors.
At the end of last year, AWS also launched a new generation of customized design chips for data centers, aimed at machine learning training and generating artificial intelligence applications.