Lynch Asset Snaps Up 42,650 Shares in Amazon.com for $10.2 Million

Lynch Asset Management Inc., a hedge fund, has taken a significant position in Amazon.com, Inc. (NASDAQ:AMZN) by acquiring 42,650 shares during the second quarter.

The acquisition is valued at approximately $10,165,000 and accounts for about 2.8% of Lynch's holdings, making it their tenth largest holding.

This move comes as Amazon continues to expand its reach in various industries, including AI and data-center capacity, with agreements such as the recent multigenerational collaboration with Qualcomm to develop custom AI inference chips and optical networking systems.