Amazon.com has surpassed two trillion dollars in market value for the first time in afternoon trading on Wednesday.
The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit three trillion dollars and briefly became the most valuable company on Wall Street. Most of the company’s focus has been on business-focused products, including AI models and a chatbot called Q, which Amazon makes available to businesses that use its cloud computing unit AWS.
In April, Amazon CEO Andy Jassy said that AI capabilities have re-accelerated AWS’ growth and that it was on pace for 100 billion dollars in annual revenue.The tech giant has also invested four billion dollars in the San Francisco-based AI company Anthropic to develop so-called foundation models that underpin the generative AI systems.Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly.
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Amazon crosses two trillion dollars in stock market value for the first timeAmazon has also been making big investments in AI as global interest has grown in the technology.
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