Amazon surpasses Walmart in annual revenue for first time, as both chase AI-fueled growth
Signs for Walmart (L) and Amazon. Getty Images 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…