Amazon’s AI Success Sends Stock Racing Toward $3 Trillion Club

Investors are growing increasingly optimistic about Amazon.com Inc.’s position in artificial intelligence, lighting a fire under the stock and sending the company’s market capitalization soaring toward the rarefied $3 trillion level.

“We have a lot of confidence that Amazon’s AI strategy is working, and that it will continue to pay dividends in the form of strong growth over the coming years,” said Stephen Lee, founding principal at Logan Capital Management, which owns Amazon shares.