Amazon Surpasses $3 Trillion Thanks to Cloud and AI Boom

Amazon crossed the $3 trillion market capitalization mark for the first time on Monday, August 3, driven by strong results and the rise of artificial intelligence. The company's cloud services propelled the stock to a record level, as Wall Street once again distinguishes the winners of AI.

In Brief

• Amazon surpasses $3 trillion in market capitalization for the first time, becoming the fifth company to reach this milestone.
• AMZN stock closed up 5% at $285.01, an increase of over 23% since the beginning of the year.
• AWS expands its cloud and chip partnerships with OpenAI, Anthropic, and Meta, at the heart of AI demand.

Amazon Joins the Exclusive $3 Trillion Club

Only a few companies have ever planted their flag above the $3 trillion mark. Apple, Microsoft, Alphabet, and Nvidia paved the way. Amazon has just entered, becoming the fifth to cross this threshold, nearly two years after surpassing $2 trillion in June 2024. The additional $1 trillion increase in just over two years speaks to the scale of the revaluation.

This same appetite for artificial intelligence is also driving AI tokens in the crypto markets, whose speculative momentum has been the subject of recent analyses in the media. AMZN stock closed up 5% at $285.01 on Monday, a historic high, after already rising over 23% since January 1.

The previous week, the stock recorded its largest daily gain since April 2012, following the publication of the strongest growth in its cloud business in over four years.

Amazon's Cloud: The Silent Engine of Growth

The Amazon Web Services division fuels the group's profits and captures demand from AI giants. AWS has expanded its partnerships around cloud infrastructure and chip supply, with agreements made notably with OpenAI, Anthropic, and Meta. This support reassures investors, as fears of a decline in AI spending weighed on the sector before earnings season.

Reuters, which published this data, notes that Microsoft confirmed last week it will continue generating cash flow until 2027, with investments below Wall Street's expectations.

Other hyperscalers followed suit on Monday: Microsoft gained 4%, Meta 6%, Alphabet 3.6%, and Oracle 5%. Microsoft even recorded its largest daily gain since 2008.

Wall Street Finally Distinguishes AI Giants

Earnings season has differentiated those who can monetize AI from those who are financing it at a loss. Tesla and Alphabet reported negative cash flows in the last quarter, a first for Alphabet, while Meta saw its free cash flow collapse by 91%. The stock market now rewards capital discipline rather than just the promise of growth.

"Amazon is undoubtedly the most emblematic company of the current economy. It is both a success in the consumer sector and a success in AI," said Mark Hackett, chief market strategist at Nationwide.

Mark Hackett notes a fragmentation of the "Mag 7": long treated as a block, these stocks are now traded separately. Nvidia still dominates the ranking with a market capitalization close to $5 trillion, far ahead of its competitors.

In summary, Amazon enters the $3 trillion club with a trajectory that owes everything to its cloud and AI. The reshuffling among hyperscalers confirms a more selective market, where only profitable models keep their promises. This technological wave also strengthens the link between AI and bitcoin miners, whose cloud contracts are multiplying. Value is no longer read in promises but in cash flow.