Amazon

Amazon's roughly $2.3 trillion value still rests on the same two pillars it always has: the biggest e-commerce operation in the world, and AWS, which alone brings in more than $100 billion a year and remains the default choice for enterprise cloud. Andy Jassy's cost discipline pushed profitability back to record levels, while Bedrock -- Amazon's managed AI platform -- is the company's answer to the idea that AI infrastructure spending has to come at the expense of the core business. So far, it hasn't.