**Key Points:**
Billionaire investor Stanley Druckenmiller has made notable changes to his portfolio, recently selling stakes in Nvidia and Palantir Technologies while significantly increasing his investments in Alphabet and Amazon. In the fourth quarter, Druckenmiller’s Duquesne Family Office added 282,800 shares of Alphabet’s Class A stock (GOOGL), boosting his stake by 277%, and acquired 300,870 shares of Amazon (AMZN), a 69% increase.
This shift comes as both companies leverage artificial intelligence within their cloud services, with Alphabet reporting 48% revenue growth for Google Cloud and Amazon Web Services experiencing a 24% increase in sales. Both stocks are currently trading at discounts to their historical cash flow ratios, with Alphabet at 14.3 times projected cash flow and Amazon at 9.7 times, representing discounts of 20% and 48% respectively relative to their five-year averages.
