TradingKey – Amazon (NASDAQ: AMZN) shares are on a tear. It rose about 5% on Monday to trade around $285, extending a new record high after reaching $278.87 earlier in the day. In one week alone, Amazon has risen about 17%, based on its impressive second quarter earnings report that beat Wall Street’s estimates.

Amazon Web Services (AWS) contributed significantly to the impressive show, reinforcing investor confidence in the company’s increasing AI dominance. Amazon shares are now up about 26% over the past year, giving the company a market value of nearly $2.93 trillion.