Amazon surpasses Walmart in annual revenue for first time, as both chase AI-fueled growth

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For the first time, Amazon has dethroned Walmart as the company with the largest annual revenue. Walmart on Thursday reported annual revenue of $713.2 billion for its most recent fiscal year, shy of Amazon's $716.9 billion in revenue. The milestone was brewing for months, as Amazon leapfrogged Walmart in quarterly sales for the first time about a year ago. The shuffle, while largely symbolic, underscores the battle the two retailers have waged both to define and keep up with ever-changing

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