Hedge Funds Flock to Cloud Computing Leaders
The latest Form 13-Fs reveal that several hedge funds have been buying up shares of Alphabet, Amazon, and Taiwan Semiconductor during Q2. These stocks are all seeing significant growth in their cloud computing segments, with Amazon's AWS reporting a 37% year-over-year increase in revenue.
Alphabet's Google Cloud revenue soared 82% in the second quarter, driven by increased computing capacity from major capital investments. Taiwan Semiconductor is also benefiting from the AI buildout, supplying chips for most of the world's AI computing units and boasting unmatched scale and manufacturing prowess.
The 'smart money' has been loading up on shares of these companies due to their strong growth prospects. The Form 13-Fs show that billionaire-run hedge funds such as Peter Thiel's fund and David Tepper's Appaloosa Management have been buying into these stocks, among others.