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Amazon tops $3 trillion market value as AWS grows 36.7%

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Jeff Bezos Backs Cambridge AI Start-Up CuspAI in $400m Round at $2.6bn

Amazon’s stock market value topped $3 trillion on Monday, making it the fifth company to reach the milestone, after second-quarter results showed its cloud arm growing at its fastest rate in more than four years.

Shares in the Nasdaq constituent closed up $12.44, or 5 per cent, at $284.02 in New York on Monday night, a record high. The stock has risen 23.05 per cent since the start of the year.

Amazon follows Apple, Microsoft, Nvidia and Alphabet, which owns Google, in passing the mark. Apple is valued at $4.5 trillion and briefly topped $5 trillion last week. Nvidia, the chip maker, is at $5 trillion and Microsoft at $3.6 trillion.

The rally began last week, when the shares recorded their biggest one-day jump since April 2012 following Amazon’s second-quarter results. 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.

Amazon also raised its capital spending forecast for 2026, to about $220 billion.

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Andy Jassy, chief executive, described AWS as “booming” in a statement accompanying the results.

“Our AI and chips businesses each eclipsed run rates of more than $25 billion,” Jassy said. “In stores, we again set record delivery speeds for Prime members in the first half of the year, over 40 per cent more items delivered same-day or overnight, with grocery and everyday essentials growing meaningfully faster than the rest of the business.”

Over the three trading days to Monday, the shares recorded their strongest 72-hour stretch since the three days ending 27 October 2009, when they rose 30.6 per cent.

Mark Hackett, chief market strategist at Nationwide, the US financial services group, said: “Amazon is probably the most emblematic of the economy right now. It’s a consumer story and it’s an AI story.”

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Hackett said the results had shifted sentiment across the wider market. “The big scepticism coming into earnings season was if they [hyperscalers] were turning the spigot down on spending on AI. We did not get that from Amazon and Microsoft and that has unleashed a much broader all-clear for the market.”

AWS is the division behind Amazon’s UK infrastructure spending. The company said in June last year that it would invest £40 billion in the UK over three years across fulfilment centres, film production and data centres, and AWS has separately committed £8 billion to UK data centres by 2028.

Demand for AWS capacity has been driven in part by contracted work for AI developers. In November 2025, OpenAI signed a $38 billion agreement with AWS for computing capacity.

Amazon was co-founded by Jeff Bezos, who remains the largest shareholder with a stake of close to 9 per cent.

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Amy Ingham

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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(VIDEO) Justin Bieber Reacts to BTS Grammy Boycott as Support for K-Pop Group Grows Across the Industry

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Bands like BTS have helped transform K-pop into a truly global phenomenon

BTS’s decision to withdraw from consideration at the 2027 Grammy Awards has continued to draw reaction from across the music industry in the days since the announcement, with pop star Justin Bieber among the figures who have weighed in publicly as the controversy surrounding the Recording Academy’s new Best Asian Pop Music Performance category shows no sign of fading.

Bieber’s involvement in the ongoing conversation follows his appearance alongside BTS at one of the summer’s most-watched entertainment events. On July 19, Bieber joined Madonna, Shakira, Burna Boy and the seven members of BTS on stage during the halftime show of the FIFA World Cup final at MetLife Stadium in East Rutherford, New Jersey, a Chris Martin-curated performance that put th

How the Boycott Began

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BTS’s decision traces back to July 29, when all seven members, RM, Jin, Suga, J-Hope, Jimin, V and Jungkook, posted identical statements to their individual Instagram accounts announcing they would not submit any music for consideration at the 69th Grammy Awards, scheduled for Feb. 7, 2027. The group said it hoped music could be heard and loved for what it is, rather than being divided by region or language, and thanked its fanbase, known as ARMY, for their continued support. The statement did not explicitly name a category, but it was widely interpreted as a direct response to the Recording Academy’s June 16 announcement of Best Asian Pop Music Performance, a new award requiring meaningful use of one or more Asian languages that many critics argue effectively walls K-pop and other non-English Asian pop off from the ceremony’s marquee general-field categories.

The withdrawal came at a moment when BTS appeared to have its strongest Grammy prospects in years. The group’s fifth studio album, “Arirang,” released in March following the members’ return from South Korea’s mandatory military service, debuted at No. 1 on the Billboard 200 and topped charts in 23 countries, while lead single “SWIM” became the group’s highest-charting entry on the Hot 100 to date. BTS had collected five prior Grammy nominations without a win, for “Dynamite,” “Butter,” “My Universe” and its featured role on Coldplay’s “Music of the Spheres,” and had previously described the Grammys as the “last summit” left for the group to climb.

Industry Reaction Continues to Build

Support for BTS’s stance has come from a range of figures inside and outside the K-pop industry in the days since the announcement. Tablo, frontman of the Korean hip-hop group Epik High, publicly backed the decision on social media, as did Maggie Kang, the Korean Canadian director of Netflix’s animated hit “KPop Demon Hunters,” and Mike WiLL Made-It, the American producer behind the “Arirang” track “Aliens,” which surged to No. 1 on iTunes charts in 78 countries following the boycott announcement as fans rallied behind the group.

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CedarBough T. Saeji, a K-pop scholar at Pusan National University, has offered a pointed critique of the new category’s design, telling reporters that while some within the Recording Academy likely viewed the addition as inclusive, nothing about categories like Record of the Year or Best Pop Duo/Group Performance needs to exclude music made by non-American artists. Anton Hur, a translator known for his work on a bestselling book about BTS, separately praised the group’s decision on social media, calling it the right call.

The Recording Academy’s Response

Recording Academy CEO Harvey Mason Jr. addressed the boycott directly in a statement, saying he was saddened to hear that BTS had chosen not to participate in the Grammy Awards process this year, while adding that he understood and respected the group’s decision as a fellow music creator. Mason has since sought to clarify the intent behind the new category, stating that submitting music in a genre category such as Asian Pop, or Jazz, or Country does not exclude an artist from also being considered in the Grammys’ General Field, which includes Record of the Year, Album of the Year and Song of the Year. He said recognition in a genre category and recognition in the General Field are not mutually exclusive, and that an artist can pursue both simultaneously.

That explanation has done little to quiet critics, some of whom point to a pattern across the awards industry of introducing specialized categories for K-pop only after the genre has become too commercially significant to ignore. Since 2020, when BTS became the first Asian act nominated in MTV’s main Video Music Award pop category alongside artists including the Jonas Brothers, Lady Gaga and Bieber himself, several major award shows including the American Music Awards, MTV Europe Music Awards, iHeartRadio Music Awards and Billboard Music Awards have introduced K-pop-specific categories of their own.

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A Boycott With Limits

Despite the wave of public support, BTS’s management company HYBE has clarified that the withdrawal does not represent a company-wide boycott, and that neither the group nor its label has asked other artists to follow suit. That distinction has proven significant: while individual voices across music and entertainment have expressed solidarity with BTS in the weeks since the announcement, no other major K-pop act has formally joined the group in withdrawing music from Grammy consideration, with submissions for the ceremony’s new categories remaining open through Aug. 28.

With BTS out of contention, the inaugural Best Asian Pop Music Performance award will go to another act when nominees are announced in mid-November, with industry observers naming groups including ATEEZ, Stray Kids, Hearts2Hearts, BINI and CORTIS among the likely contenders. As the submission window continues, attention remains focused on whether additional artists, drawing further public commentary from figures across the industry, ultimately follow BTS’s lead or choose instead to compete for a category the K-pop pioneers themselves declined to enter.

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Knife River Corporation 2026 Q2 – Results – Earnings Call Presentation (NYSE:KNF) 2026-08-05

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

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Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Infineon Technologies AG (IFNNY) Q3 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript