Amazon claimed the top position on the 2026 Fortune Global 500 list for the first time.
The company's revenue grew 12% to surpass $700 billion during the 2025 fiscal year.
Walmart fell to the No. 2 spot, ending a 12-year streak as the world's largest company by revenue.
Fortune announced the ranking shift on July 28, 2026.
The change reflects the sustained global dominance of the e-commerce and cloud computing sectors.
A record 141 U.S.-based companies earned a spot on the 2026 list.