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Amazon tops $3trn as AWS sales grow 36.7 per cent
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Business Matters
Nvidia, the chip maker, is at $5 trillion and Microsoft at $3.6 trillion.
The company reported that Amazon Web Services grew net sales by 36.7 per cent compared with a year earlier, to $42.2 billion.
Group net sales rose 20 per cent to $200.6 billion and operating income rose 43 per cent to $27.5 billion.
“The big scepticism coming into earnings season was if they [hyperscalers] were turning the spigot down on spending on AI.
Amazon was co-founded by Jeff Bezos, who remains the largest shareholder with a stake of close to 9 per cent.