ISTANBUL, June 27 — Amazon’s market value surpassed US$2 trillion on Wednesday for the first time in the company’s history as its shares hit an all-time high during afternoon trading, Anadolu Agency (AA) reported.
The e-commerce and tech giant’s stock price climbed 3.9 per cent to close the day at US$193.61 per share, giving it a market capitalisation of US$2.01 trillion.
As a result, Amazon has become the fifth publicly traded company in the world to reach this milestone.
Amazon ranks fifth on that list, behind Google’s parent firm Alphabet in fourth place with a US$2.28 trillion market cap, and chipmaker Nvidia in third spot with US$3.11 trillion.
Apple ranks second with a market value of almost US$3.27 trillion, while Microsoft is on top with US$3.36 trillion as of Wednesday’s close.
Additionally, Amazon’s stock price hit an all-time high of US$194.80 per share during the session.
The company’s shares are up almost 28 per cent since the beginning of this year.
Investor interest in tech firms has been on the rise this year as demand for artificial intelligence (AI) is booming.
In March, Amazon made an additional US$2.75 billion investment in AI startup Anthropic, increasing its total investment in the firm to US$4 billion.
Last week, Anthropic unveiled Claude 3.5 Sonnet, its most powerful AI model yet.
— Bernama
