(Bloomberg): Amazon.com Inc.’s stock price rose on the U.S. stock market on the 26th, and its market capitalization exceeded the 2 trillion dollar mark for the first time. The company’s cloud business is accelerating again, driven by the boom in artificial intelligence (AI), and its growth trend is improving.

Amazon shares closed at $193.61, up 3.9% from the previous day. With a market capitalization exceeding $2 trillion, the company joined the ranks of megacap stocks. Among the tech giants, Alphabet surpassed the $2 trillion mark in April. Nvidia, Microsoft, and Apple are all worth more than $3 trillion.

Amazon’s stock price has been fluctuating since the announcement of its first-quarter (January-March) financial results. As the cloud division’s sales in January-March recorded the strongest growth in the past year, the stock price updated its highest price since its listing in April, but fell toward the end of May. It then began to rise in June, and is up about 27% since the beginning of the year.

Original title: Amazon Hits $2 Trillion in Value as AI Frenzy Fuels Rally (1) (excerpt)

(Stock prices updated with closing prices)

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