Insight Wealth Invests Heavily in Amazon Amid Qualcomm Data-Center Deal
Insight Wealth Partners LLC has made a significant investment in Amazon.com Inc. (NASDAQ: AMZN) worth $2.58 million, according to its latest SEC filing. The fund acquired 10,828 shares of the e-commerce giant's stock in the second quarter, which accounts for approximately 0.3% of Insight Wealth Partners' portfolio.
The company has also seen changes in its positions from other large investors. Vanguard Group Inc. raised its stake in Amazon.com by 1.1% during the first quarter and now owns 832,274,556 shares valued at $158,348,557,000. State Street Corp increased its position in Amazon.com by 1.8% during the fourth quarter and holds 388,653,121 shares worth $89,708,913,000.
Amazon's stock price has been affected by various news stories this week, including its agreement to purchase up to $60 billion of Qualcomm's custom data-center chips through 2036. The deal is expected to improve Amazon Web Services' (AWS) AI hardware supply and expand the company's infrastructure flexibility.