Nvidia (NASDAQ: NVDA), a leader in AI chip design, has experienced record earnings, fueled by the projected growth of the AI market, which is expected to reach trillions in the coming years. Meanwhile, some billionaires have recently sold their Nvidia shares and have turned their focus to Amazon (NASDAQ: AMZN), citing its strong position in AI, particularly through its Amazon Web Services (AWS) division, which achieved a revenue run rate of $117 billion driven by AI-related products and services.
Key billionaires have increased their stakes in Amazon: Chase Coleman of Tiger Global Management lifted his position by 2.7% to 6,588,488 shares; Philippe Laffont of Coatue Management boosted his holding by 0.8% to 10,753,808 shares; and Stephen Mandel Jr. of Lone Pine Capital grew his investment by nearly 15% to 4,352,740 shares.
Amazon’s dual role in AI product delivery and its existing robust business model in e-commerce positions it well for future growth. As the demand for AI solutions rises, Amazon’s established market presence and innovative capabilities make it a preferred choice among leading investors.
