Amazon Stake Boosted by Phillips Wealth Planners as AI Infrastructure Gains Traction

Phillips Wealth Planners LLC, an investment firm, has acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN), according to its recent disclosure with the Securities and Exchange Commission.

The company purchased 3,229 shares of Amazon's stock, valued at approximately $794,000, during the second quarter.

This is not an isolated move; other institutional investors and hedge funds have also been increasing their stakes in Amazon. Brighton Jones LLC boosted its stake by 10.9% in the fourth quarter, while Revolve Wealth Partners LLC raised its position by 4.1%

Amazon's AI infrastructure has been gaining traction, with a major partnership with Qualcomm strengthening its position. The company is also expanding its Quick AI assistant to mobile devices and has completed more than 500 flights during a UK trial for its Prime Air drone delivery service.