Amazon reached a $2 trillion market value for the first time on Wednesday, becoming the fifth U.S. company to surpass this milestone.

This achievement comes as optimism around artificial intelligence and potential interest rate cuts this year have increased demand for technology-related stocks.

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Amazon’s stock rose 3.4% to $192.70, boosting its market value above $2 trillion.

Last week, Technology giant Nvidia surpassed Microsoft to become the world’s most valuable company, achieving a market capitalization of $3.335 trillion.

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