Thiel Macro Bets Big on Amazon AI Infrastructure

Peter Thiel's macro fund has returned to US-listed equities, and Amazon is now its largest disclosed holding. The company's portfolio revealed that Amazon accounts for almost $118 million, or 28.2% of the portfolio's value.

The rest of the portfolio points to a bigger wager on infrastructure powering artificial intelligence, with energy and power-related holdings representing about 72% of disclosed value. These include positions in Vista Energy, Vistra, American Electric Power, DTE Energy, FirstEnergy, CMS Energy, and X-Energy.

Amazon's AWS revenue rose 37% year on year to $42.2 billion in the second quarter, its fastest growth in 18 quarters. The company has also raised planned 2026 capital expenditure to about $220 billion as it races to add cloud and AI capacity.