M3 Wealth Management LLC Acquires New Stake in Amazon.com Inc.

M3 Wealth Management LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,583 shares of the e-commerce giant's stock, valued at approximately $4,191,000. This represents about 2.7% of M3 Wealth Management LLC's investment portfolio, making Amazon.com its 15th biggest position.

Amazon is one of several major investors that have increased their stakes in the company. Vanguard Group Inc., for example, grew its position in Amazon by 1.1% in the first quarter and now owns 832,274,556 shares worth $158,348,557,000. State Street Corp also increased its position in shares of Amazon.com by 1.8% during the fourth quarter.

Amazon has been making significant investments in various sectors, including AI and data centers. The company agreed to a multigenerational collaboration with Qualcomm to develop custom AI inference chips and optical networking systems. This arrangement could involve up to $60 billion of AWS purchases through 2036, helping Amazon diversify beyond Nvidia and potentially reduce AI computing costs.

Amazon has also been expanding its operations in Texas, where it plans to invest $1.6 billion with manufacturing partner Wiwynn. The company is raising £4.25 billion through its first sterling bond sale to help fund AI infrastructure and data-center expansion.