Amazon has overtaken Walmart to become the largest U.S. company by revenue, posting $716.9 billion for 2025 versus Walmart’s $713.2 billion. This marks a historic shift: Walmart had held the top spot on the Fortune 500 for thirteen years and twenty-one of the last twenty-four years. Amazon becomes only the fourth company ever to lead this ranking, after Exxon, General Motors, and Walmart. The rivalry between the two giants is now extending into various sectors such as AI, streaming, and media services. Paradoxically, this competition has made Walmart stronger, with its revenue and market cap at all-time highs and online sales growing 27 percent last quarter.
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