Amazon Surpasses $3 Trillion on Cloud Growth and the AI Boom

Amazon crossed the 3 trillion dollar market capitalization mark for the first time on Monday, August 3, driven by strong results and the rise of artificial intelligence. The group’s cloud propels the stock to a record high, as Wall Street once again distinguishes the winners of AI. Does the technology wave give the green light back to risk appetite?

Amazon joins the very exclusive 3 trillion club

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

This same appetite for artificial intelligence also drives AI tokens on crypto markets, whose speculative momentum was recently analyzed by the media. AMZN stock closed Monday up 5% at 285.01 dollars, a historic high, after already increasing more than 23% since January 1.

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

Amazon’s cloud, the silent driver of the rise

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 deals notably concluded with OpenAI, Anthropic, and Meta. This support reassures investors, as fears of a decline in AI spending weighed on the sector ahead of earnings season.

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

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

Wall Street finally sorts out the AI giants

Earnings season has separated those who know how to monetize AI from those who finance it at a loss. Tesla and Alphabet posted negative cash flows 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 the sole promise of growth.

“Amazon is probably the most emblematic company of the current economy. It is both a success in the field of consumption 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 now trade separately. Nvidia still dominates the ranking with a capitalization close to 5 trillion dollars, far ahead of its pursuers.

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