Amazon (AMZN) officially crossed the $3 trillion market capitalization threshold, becoming the fifth public company in history to reach the mark. The surge was driven by a record-high stock price of $287.16, following a strong Q2 2026 earnings report released on July 30 that exceeded $200 billion in quarterly revenue for the first time. AWS net sales reached an annualized run rate of $169 billion, driven by enterprise demand for generative AI training and deployment, while AWS profit margins expanded sharply. In-house AI chips (Trainium and Graviton) surpassed a $25 billion annual run rate. Amazon’s advertising segment nearly hit $20 billion for the quarter, growing over 20% year-over-year, boosted by Prime Day integration and sponsored product optimization. North American and International retail units continue to post higher operating margins due to lower cost-to-serve structures and regionalized fulfillment centers. Expansion is currently limited by hardware and infrastructure delivery times rather than market demand. Despite market concerns around massive AI capital expenditure (~$200 billion full-year run rate across data centers, chips, and the Project Kuiper/Leo satellite constellation), Q2 results showed immediate top-line return on investment.