Amazon hits US$2-trillion in valuation on AI fervor, rate cut

) it $2 trillion in market value for the first time on Wednesday, becoming the fifth U.S. company to surpass that level as optimism around artificial intelligence and potential interest rate cuts this year drove demand for technology-related stocks.

U.S. stock indexes have recorded robust gains this year on relentless enthusiasm around AI, optimism around resilience in the U.S. economy and potential easing of interest rates from the Federal Reserve. Shares of Amazon, which were added to the blue-chip Dow Jones Industrial Average index in February, have climbed over 26% this year. The company became the fifth biggest U.S. company by market value in February after Nvidia went up a spot.

The company has also invested in AI startup Anthropic and robotics firm Figure as it looks to capitalize on the AI boom.

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