Amazon Sees Record Commerce Bank Investment Amid Cloud Boom

Commerce Bank has made a significant investment in Amazon.com, Inc., purchasing $622.97 million worth of shares during the second quarter. The bank bought 2,613,793 shares of the e-commerce giant's stock, which makes up about 2.7% of Commerce Bank's portfolio and is its sixth-largest holding.

This is not an isolated investment; other hedge funds have also modified their holdings in Amazon.com. GQG Partners LLC, Weitz Investment Management Inc., Northwestern Mutual Wealth Management Co., Cadence Wealth Management LLC, and Academy Capital Management all bought new positions in the company during the second quarter, valued at $136.81 million, $51.84 million, $873.45 million, $391,000, and $58.68 million, respectively.

Amazon.com's stock has been a subject of interest among analysts and investors due to its growing cloud business and increasing demand for AI-related infrastructure spending. The company has also made significant investments in same-day delivery networks through Project Mercury, aiming to expand its hubs to over 1,000 by 2031.