Amazon Shareholders Backed by $6 Billion Institutional Investment
Orion Capital Management LLC purchased approximately $6,329,000 worth of Amazon.com, Inc. (NASDAQ:AMZN) shares in the second quarter.
The company bought a new stake in Amazon's stock, which accounts for 2.0% of Orion Capital Management LLC's investment portfolio and is their 12th largest position.
Orion was not alone in buying up Amazon.com shares during this period; other institutional investors also made significant purchases, including Silvant Capital Management LLC, Public Employees Retirement System of Ohio, Northstar Financial Companies Inc., Gryphon Financial Partners LLC, and First Citizens Bank & Trust Co.
The purchase of Amazon's stock by these investors comes as the company continues to invest heavily in its infrastructure, particularly in artificial intelligence (AI) and cloud computing. In recent months, Amazon has committed billions of dollars to various AI-related projects, including a $11.6 billion CPU agreement with Akamai.