Amazon NASDAQ:AMZN, a global e-commerce and cloud-computing company, jumped approximately 4.7% in Monday's regular-session trading as of 10:15 a.m. ET, lifting its market value above $3 trillion for the first time. The shares reached an intraday record of approximately $286.90 after gaining 15% on Friday. Amazon's latest advance followed its strongest cloud-computing growth in more than four years and an increase in planned artificial-intelligence infrastructure spending.
Amazon Web Services revenue increased 37% during the second quarter as customers expanded their use of cloud and AI services. Amazon previously raised its planned 2026 capital expenditure to approximately $220 billion from $200 billion. Chief Executive Andy Jassy said the spending was directed toward existing customer demand, while much of the cloud capacity scheduled for 2027 and some capacity planned for 2028 had already been reserved. Amazon also disclosed another investment in Anthropic during April and separately committed to investing as much as $50 billion in OpenAI.
Amazon needed slightly more than two years to advance from the $2 trillion valuation first reached in June 2024 to Monday's $3 trillion milestone. That additional $1 trillion reflects investors' increasing willingness to reward infrastructure spending when it produces visible cloud growth. Amazon joined Apple NASDAQ:AAPL, Microsoft NASDAQ:MSFT, Alphabet NASDAQ:GOOG and NVIDIA NASDAQ:NVDA among companies that have previously reached a $3 trillion valuation. Investors may now assess whether AWS can maintain its accelerated growth while Amazon deploys an additional $20 billion of planned annual capital expenditure and manages the resulting pressure on cash generation.