Amazon Joins Exclusive $2 Trillion Club on Wednesday Amid 27% Rise

Jun 27, 2024, 01:22 AM

Amazon has joined the exclusive $2 trillion club, becoming only the fifth U.S. company to reach this milestone. The e-commerce giant's market value surpassed $2 trillion for the first time during afternoon trading on Wednesday, driven by optimism around artificial intelligence and its impact on Amazon's cloud-computing business. The company's stock has risen approximately 27% this year, fueled by improving growth trends. Amazon now joins other tech giants such as Alphabet in the elite $2 trillion market capitalization club. This milestone was achieved after Wall Street investors pushed the value of Amazon's stock past the threshold.