Amazon (NASDAQ: AMZN) has joined the $2 trillion club, and there’s every reason to believe that the company will continue to grow. Besides being a giant in e-commerce, Amazon offers investors a way to invest in artificial intelligence (AI) and cloud computing.

Now that the company’s value exceeds $2 trillion, the next question is how quickly it can reach a $3 trillion market cap, which would place it among the largest companies in the world. Is it possible for Amazon’s stock to reach that level by the end of the year?

To achieve a $3 trillion market cap, Amazon needs to grow by another 50%. This is no small feat, especially considering that the company’s stock has already risen more than 30% since the beginning of the year. However, there are potential catalysts that make this possible. The company is actively investing in AI and rolling out AI features to its Alexa assistant, which could lead to increased revenue through premium versions. Additionally, the Amazon Web Services segment could benefit from increased AI-related spending by businesses.

There is no doubt that Amazon still has immense growth potential. AI can enhance all areas of the company’s business, including e-commerce. However, for the stock to see significant growth this year, the company needs to accelerate its growth rate. In the first three months of 2024, Amazon’s sales increased by 13% to $143.3 billion. This is a good result, but not enough to convince investors of significant AI-related demand growth.