Key Points
Peter Thiel’s hedge fund, Thiel Macro, reported a significant investment in Amazon, comprising 28% of its portfolio as of June 30, 2023. This marks a shift from the fund’s previous position of holding no stocks in the first quarter of the year. The fund’s other investments focus on energy companies, indicating Thiel’s belief in the future of AI and its supporting infrastructure.
Amazon Web Services (AWS) continues to be a major revenue driver, accounting for 21% of total revenue but 60% of operating profits in Q2 2023. The growth rate of AWS has accelerated from the low-20% range in 2025 to 37%, highlighting the increasing demand for computing power as Amazon invests $220 billion in data center capital expenditures this year.
These developments suggest that the market may not yet fully price in the potential revenue growth from AWS, making now an opportune time for investment.
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