Amazon Overtakes Walmart in Revenue, AI Becomes Next Battleground

• Amazon has surpassed Walmart in annual revenue for the first time, reporting $716.9 billion compared to Walmart's $713.2 billion.
• Amazon's revenue growth is fueled by online shopping, third-party seller services (24% of sales), Amazon Web Services (18%), and advertising.
• Walmart's revenue has doubled in two decades, with strong US e-commerce growth and a market value exceeding $1 trillion.
• Both giants are heavily investing in AI: Walmart partners with OpenAI and Google, while Amazon expands its in-house assistant Rufus and invests $200 billion in AI infrastructure.
• Walmart's Sparky AI assistant users spend 35% more; Amazon's Rufus contributed nearly $12 billion in incremental sales.