Amazon Reaches $2 Trillion in Stock Market Value

Video Credit: Wibbitz Top Stories
Published on June 27, 2024 - Duration: 01:30s

Amazon Reaches $2 Trillion in Stock Market Value

Amazon Reaches $2 Trillion , in Stock Market Value.

On June 26, Amazon became the 5th American company to join the $2 trillion club, NPR reports.

.

Amazon shares ended the day up nearly 4%, giving the company a $2.01 trillion stock market valuation.

.

Within the past year, Amazon's stock has gained 52%.

Part of that gain can be attributed to investors' enthusiasm about the company's AI endeavors, NPR reports.

.

A big part of the valuation boost has been cloud and AI.

Amazon is going to be a major player in the AI revolution, Dan Ives, Wedbush tech analyst, via NPR.

Amazon currently has a chatbot called Q, which businesses that use AWS have access to.

.

Amazon currently has a chatbot called Q, which businesses that use AWS have access to.

.

Amazon CEO Andy Jassy recently said that AI has rejuvenated the growth of AWS.

The cloud computing unit is reportedly on pace to bring in $100 billion in annual revenue.

Amazon recently invested in Anthropic, a California AI company, "to develop so-called foundation models that underpin generative AI systems," NPR reports.

.

Amazon also makes its own AI chips.

The other four U.S. companies that belong to the $2 trillion club are Google, Microsoft, Apple and Nvidia.

.

The other four U.S. companies that belong to the $2 trillion club are Google, Microsoft, Apple and Nvidia.

.

The other four U.S. companies that belong to the $2 trillion club are Google, Microsoft, Apple and Nvidia.

.

The other four U.S. companies that belong to the $2 trillion club are Google, Microsoft, Apple and Nvidia.


You are here


💡 newsR Knowledge: Other News Mentions




Related news from verified sources

Nvidia has seen soaring demand for its semiconductors, which are used to power artificial intelligence applications. The company's revenue more than tripled in...
on June 6, 2024 • IndiaTimes

India's Sensex closes above 77,000 for the first time, driven by foreign fund inflows. The stock market value surpasses $5 trillion, joining US, China, Japan,...
on June 18, 2024 • IndiaTimes

Nvidia's stock soared on Wednesday, helping it surpass Apple to become the world's second most valuable company with a market value exceeding $3 trillion. The...
on June 6, 2024 • IndiaTimes

Related videos from verified sources

Britain Overtakes France to Reclaim Stock Market Crown 01:30
Video credit: Wibbitz Top Stories - Published on June 18, 2024 

Nvidia Rides Wave of AI Interest to Overcome Apple as the Second-Most Valuable Company 01:30
Video credit: Wibbitz Top Stories - Published on June 6, 2024 

You might like