Amazon's stock market value surpassed $2 trillion on 7 July due to AI optimism, potential rate cuts, and strong US economy.

Amazon's stock market value reached $2 trillion for the first time on 7th July, driven by optimism around artificial intelligence (AI), potential interest rate cuts, and resilience in the US economy. Amazon's future cash flows are expected to benefit from lower interest rates. The company has also invested in AI startup Anthropic and robotics firm Figure, with its Amazon Web Services unit being the largest cloud services provider globally, experiencing growth thanks to the surging adoption of AI technologies.

June 26, 2024
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