Amazon's shares rose 3.9% to $193.61, pushing its market cap past $2 trillion, joining Nvidia, Apple, Alphabet, and Microsoft. Tech stock enthusiasm, driven by AI excitement, has benefited Amazon, whose shares are up 27.5% this year. Recent cost-cutting and AWS growth have boosted earnings. CEO Andy Jassy's efforts include significant layoffs.
Amazon's shares rose 3.9% to $193.61, pushing its market cap past $2 trillion, joining Nvidia, Apple, Alphabet, and Microsoft. Tech stock enthusiasm, driven by AI excitement, has benefited Amazon, whose shares are up 27.5% this year. Recent cost-cutting and AWS growth have boosted earnings. CEO Andy Jassy's efforts include significant layoffs.