We are discussing Amazon Reached a $2 Trillion Valuation on AI Optimism, Rate Cut Bets:
Tech giant and e-commerce company Amazon crossed the $2 trillion market cap and became the fifth company in the U.S. to reach this valuation around artificial intelligence and potential interest rate cuts this year. The company’s stock increased by 3.4 percent to $192.70, giving the firm a valuation of $2 trillion and reaching the same category as Apple, Nvidia Corp, Microsoft, and Alphabet.
Moneycontrol mentioned that the U.S. stock indexes increased this year due to more interest in Artificial intelligence and optimism in the economy, which led to increased interest rates from the Federal Reserve. Shares of Amazon increased by 26 percent this time, making this e-commerce giant the fifth biggest U.S. company by valuation. Amazon Web Services is a subsidiary of Amazon that offers cloud services and is known as the largest cloud services provider in the world. Increasing Artificial intelligence and adopting AI technologies helped the company achieve this valuation.
Amazon has been investing in various AI and robotics startups to boost AI. It previously announced that its cloud computing arm, Amazon Web Service, made an investment of $230 million in early-stage Gen AI startups globally. The program offered early-stage startups with AWS cloud computing credits and services while providing them with tips to integrate and use machine learning and Artificial intelligence technologies in their applications.
The growing demand for AI in the market requires more usage and growth of cloud service providers like AWS. Amazon has been working on expanding its cloud credits to enable the use of AI models and enhance its AI platform. The tech giant has partners, including Mistral AI, Meta, Cohere, and Anthropic, with whom it continuously works to increase its market share.
Conclusion
Amazon is a tech giant company that reported a valuation of 2 trillion USD. This makes it the fifth company in the U.S. to reach this valuation, following Microsoft, Apple, Alphabet, and Nvidia Corp. The stock for the company also increased to $192.70 by 3.4 percent. Last month, Amazon reported that its cloud subsidiary AWS was planning to invest $230 million in gen AI startups worldwide. The program offered all startups under it free access to Amazon Web Services, including database, computing, storage, and infrastructure. AWS aimed to help long-term clients through this program by assisting early-stage companies in increasing their size, as more size will increase the need for cloud storage and services.
The U.S. stock indexes increased this year due to more interest in Artificial intelligence and optimism in the economy, which led to an ease in interest rates from the Federal Reserve. Amazon has been working on expanding its cloud credits to enable the use of AI models and enhance its AI platform. Amazon has been investing in various AI and robotics startups to boost AI. Amazon previously announced that its cloud computing arm, Amazon Web Service, plans to invest $230 million in early-stage Gen AI startups globally.
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