Reliant Investment Partners Doubles Down on Amazon

Reliant Investment Partners LLC, a financial firm, purchased 11,750 shares of Amazon.com's stock during the second quarter. The investment is valued at approximately $2,800,000 and makes up 1.9% of Reliant Investment Partners' portfolio.

This purchase aligns with the trend of institutional investors increasing their stakes in Amazon.com. In fact, Bank of New York Mellon Corp bought a new stake in Amazon.com in the second quarter worth around $16 billion.

Amazon.com has been expanding its business, including its AI and cloud infrastructure. The company recently agreed to a long-term deal with Generac to supply backup generators for its data centers. This deal is expected to total approximately $2.4 billion in 2027 and 2028.