ethereum ·
Amazon and Microsoft add close to $445 billion in market value in one morning
The move came the day after the US midterm elections, in which Democrats won control of both the House and the Senate.
Investors appear to have looked at the results and decided the two cloud giants were among the winners. Amazon shares climbed between about 7% and 7.7% during the session. Microsoft rose by about 5% to 7%.
Both stocks traded near intraday records. Microsoft accounted for the larger share of the gain, adding around $250 billion in market value on its own. The rest of the near-$445 billion total came from Amazon.
For context, Microsoft has been here before, and recently. In late July 2026, the company posted a record $450 billion market-cap increase after a strong earnings report. The election results went beyond Congress.
Democrats also won key gubernatorial races in Texas, Ohio, and Georgia. Join 34,000+ readers across crypto, finance, and policy. Meanwhile, local voters in several states approved restrictions on building new data centers.
The expectation embedded in the rally is that a Democratic-controlled Congress could introduce regulatory measures favoring large tech companies that already operate extensive data-center networks. Both companies came into November off strong earnings tied to cloud computing.
