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Amazon crossed the $3 trillion market cap milestone this week, becoming only the fifth company ever to do so after Nvidia, Alphabet, Microsoft, and Apple. The catalyst: AWS posted $42.2B in Q2 revenue, growing 37% โ its fastest pace in 18 quarters โ at 39% operating margins. Total Q2 revenue crossed $200B for the first time, up 20% year over year. With $220B in planned 2026 capex, is AWS's AI infrastructure bet the smartest bet in tech right now?
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