Amazon reaches $2 trillion valuation for the first time

Amazon.com has reached a $2 trillion market valuation, becoming the fifth US company to achieve this milestone. The surge is attributed to the AI boom and potential interest rate cuts. Amazon’s stock rose 3.4% to $192.70, placing it among tech giants like Microsoft, Apple, Nvidia, and Alphabet. The company’s shares have climbed over 26% this year, boosted by its cloud services division and AI investments. Amazon recently joined the Dow Jones Industrial Average and unveiled new custom-designed chips for AI applications. Reuters