Amazon.com Inc. (NASDAQ:AMZN) shares rose 1.80% in Monday’s premarket after soaring more than 15% on Friday, putting founder Jeff Bezos on track for another multibillion-dollar increase in his net worth.
Friday’s rally also added roughly $25 billion to Bezos’ fortune, helping him overtake Alphabet‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google co-founder Sergey Brin to reclaim the title of the world’s third-richest person, according to Bloomberg’s billionaire rankings. The jump followed Amazon’s quarterly earnings beat, which included $206.6 billion in revenue and 37% year-over-year AWS revenue growth to $42.2 billion.
The premarket gains extended Friday’s earnings-fueled rally, when Amazon shares surged after the company reported stronger-than-expected second-quarter results. The performance was driven by robust Amazon Web Services growth, prompting BNP Paribas analyst Nick Jones to reiterate a Buy rating. Jones said AWS momentum supports a path toward a $1 trillion business over time.
AWS Growth Drives Rally
AWS revenue accelerated 36.7% year over year, the fastest pace in 18 quarters, underscoring continued demand for Amazon’s cloud and AI offerings.
During Thursday’s earnings call, CEO Andy Jassy said AWS has reached a $169 billion annualized revenue run rate, while Amazon’s AI revenue run rate has climbed to more than $25 billion, both growing at triple-digit rates.
“We’re seeing strong growth across both AI and non-AI (what we call ‘core’), and growth in one is driving growth in the other,” Jassy said, adding that customers continue choosing AWS because it offers “the broadest capabilities” and the strongest security and operational performance.
Amazon also raised its 2026 capital spending outlook to $220 billion from $200 billion, citing higher memory costs as it continues expanding AI infrastructure.
Amazon Rally Lifts Nasdaq
Amazon’s post-earnings rally also helped lift the Nasdaq Composite 1% on Friday , though CNN’s Fear & Greed Index remained in the “Fear” zone, reflecting cautious broader market sentiment.
Jassy said customers choose AWS because it offers “the broadest capabilities,” adding that many want AI inference to reside near their existing applications and data and that AWS provides “the strongest security and operational performance.”
Amazon Stock Climbs Again
Price Action: Amazon shares were up 1.76% at $276.37 in Monday’s premarket after closing 15.32% higher at $271.58 on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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