Amazon founder Jeff Bezos says he will sell another 25 million shares in the technology giant, worth nearly US $5 billion.

It comes after the company’s stock market value hit a record high on Wednesday.

In February, he announced that he would sell Amazon shares worth around US $8.5 billion. That marked the first time since 2021 that Bezos had sold Amazon shares.

The company’s shares have risen by more than 30 per cent this year on expectations that growing demand for artificial intelligence technology will boost earnings at its cloud computing business.

Last month, Amazon’s stock market valuation topped the US $2 trillion mark for the first time. However, that is still behind other major technology firms Nvidia, Apple and Microsoft, all of which have crossed the US $3 trillion mark.