Amazon Will Be America’s First $1T Revenue Company

By Douglas A. McIntyre Published Jan 16, 9:15AM EST

24/7 Wall St. Key Points

At is current pace of growth, Amazon.com Inc. (NASDAQ: AMZN) will have over $1 trillion in revenue by 2028.
Amazon’s growth is likely to be supercharged by artificial intelligence.

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Amazon.com Inc. (NASDAQ: AMZN | AMZN Price Prediction) will have over $1 trillion in revenue by 2028. The math is simple. Take the revenue of America’s largest companies by that measure this year. Keep the same growth rate they have in 2025 for the three following years. Find out which of these will reach $1 trillion in revenue per year the fastest. The winning candidate is Amazon.

Amazon will have revenue of about $720 billion this year, which will put it slightly ahead of Walmart’s $700 billion. Walmart Inc. (NYSE: WMT) has been the largest American company based on revenue for a decade. At its current growth rate, Walmart will have revenue of $790 billion in 2028.

Apple Inc. (NASDAQ: AAPL) revenue will be about $520 billion this year. At its current revenue growth rate, that figure will be $720 billion three years from now.

Given the growth rate of Nvidia Corp. (NASDAQ: NVDA), it should be a candidate to cross the $1 trillion revenue mark first. However, it is too small now to reach $1 trillion in 2028. Even at a growth rate of 60% year over year, its current revenue is only $240 billion, so the 2028 figure will be $940 billion.

What Does Amazon Have?

Amazon has one revenue stream that will be a drag on growth and one that will be an engine. Its e-commerce growth rate is 10% year over year. Almost four out of five dollars of Amazon revenue comes from e-commerce. The balance is from AWS, which has a current annual growth rate of 22%.

Which of Amazon’s businesses is likely to be most supercharged by artificial intelligence? AWS. As the largest cloud computing company in the world, it can leverage its OpenAI deal, which at $38 billion has been described as the single largest AI integration in history. In addition, Amazon is in the chip business, and industry observers say it could challenge Nvidia on that front.

Amazon is in a prime position to build out AI data centers, which are at the core of any AI company’s expansion. Amazon is in the midst of a $100 billion data center expansion. There is no precise record of which tech and financial firms are currently spending the most on data centers. And there is no evidence that any company is spending more than Amazon is.

Finally, AI will likely help Amazon’s total revenue grow much faster than last year. Its current overall revenue pace is about 14%. A modest acceleration, and Amazon revenue could be close to $1 trillion in 2027.

Amazon Stock Price Prediction and Forecast 2025–2030

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.