Amazon tops $3 trillion and Microsoft surges as Wall Street sets aside AI spending fears, for nowGeekWire IllustrationMicrosoft and Amazon both saw their stocks surge again Monday, riding a post-earnings tech wave across the stock market that pushed Amazon past $3 trillion in value for the first time. Microsoft and Amazon are now the world’s fourth and fifth most valuable companies, respectively. Its rally began Thursday, when it added nearly $450 billion in market value, the largest one-day gain by any company on record. Microsoft spent a record $41 billion on capital projects last quarter and told investors to expect more than $50 billion in the current quarter. Amazon raised its 2026 forecast to about $220 billion from $200 billion, citing rising memory chip prices.