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The Economic Times
The Economic Times
Business
Debaroti Adhikary

What bubble? Amazon enters $3 trillion market cap club, CEO highlights striking AI demand

Amazon Microsoft Apple Artificial Intelligence Andy Jassy Alphabet CNBC Nvidia

Amazon shares soared to a fresh lifetime high on Monday, briefly pushing its market cap above the $3 trillion mark for the first time ever after the company’s better-than-expected earnings report last week boosted investor sentiment on the back of strong AI demand.

Shares of Amazon jumped more than 4% on Monday, recording its best-ever day since early May this year. This came after the company delivered its strongest cloud growth in over four years and raised its annual capital spending forecast.

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