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.
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