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BTC Amazon exceeded the US$3 trillion market value mark for the first time on Monday, August 3, driven by strong performance and the wave of artificial intelligence. The group's cloud business pushed stock prices to record highs, and Wall Street once again selected a winner in artificial intelligence. Has this technology wave rekindled the market's risk appetite?
Quick overview of key points
Amazon exceeded its market value of US$3 trillion for the first time, becoming the fifth company to reach this milestone. Amazon's shares closed up 5% at $285.01 on Monday, a cumulative increase of more than 23% this year. Amazon Cloud Services and OpenAI, Anthropic and Meta expand collaboration in cloud computing and chips that are at the heart of artificial intelligence needs.
Amazon joins the $3 trillion club
Only a very few companies have ever planted their flag above $3 trillion. Apple, Microsoft, Alphabet and Nvidia paved the way. Amazon has now joined, becoming the fifth company to break this threshold, less than two years since it exceeded $2 trillion in June 2024. An additional US$1 trillion in just over two years is enough to illustrate the scale of this revaluation.
The same enthusiasm for artificial intelligence has also promoted AI tokens in the cryptocurrency market, and their speculative momentum has recently been analyzed by the media. Amazon shares closed up 5% at $285.01 on Monday, setting a record high, after having risen more than 23% since January 1. Last week, the company's share price recorded its biggest one-day gain since April 2012, after its cloud business reported its strongest growth in more than four years.
Amazon Cloud Services: The invisible engine of stock price rise
Amazon's cloud services division contributes profits to the group and captures demand from artificial intelligence giants. The service has expanded partnerships around cloud computing infrastructure and chip supply, reaching important agreements with OpenAI, Anthropic and Meta. The support provides reassurance for investors because concerns about falling artificial intelligence spending had weighed on the sector before the earnings season.
According to sources, Microsoft confirmed last week that its cash flow will continue until 2027, and that the investment scale is lower than Wall Street expectations. Other cloud services giants also followed suit on Monday: Microsoft rose 4%, Meta rose 6%, Alphabet rose 3.6%, and Oracle rose 5%. Microsoft even recorded its biggest one-day gain since 2008.
Wall Street finally identified artificial intelligence giant
The earnings season has distinguished companies that know how to monetize AI from those that finance AI losses. Tesla and Alphabet reported negative cash flow last quarter, the first time Alphabet has seen this happen, while Meta's free cash flow plunged 91%. Today, the stock market rewards capital discipline rather than a mere commitment to growth.
"Amazon is probably the most representative company in the current economy. It's been successful in the consumer space, and it's the same in the artificial intelligence space." said Mark Hackett, chief market strategist at Countrywide Insurance. Hackett pointed out that divisions have emerged within the Big Seven: These stocks have long been seen as a unit, but are now trading independently. Nvidia still leads the rankings with a market value of nearly US$5 trillion, far ahead of chasers.
Simply put, Amazon is in the $3 trillion club with its cloud services and artificial intelligence. The reshuffle among cloud services giants confirms that the market has become more picky and that only companies with reliable profit models can deliver on their promises. The tech wave has also strengthened the connection between artificial intelligence and Bitcoin miners, whose cloud contracts are growing. Value is no longer judged by promises, but by cash flow.
