Thiel Macro Bets Big on Amazon Amid Accelerating Cloud Growth
Peter Thiel's hedge fund, Thiel Macro, has made a significant investment in Amazon (NASDAQ: AMZN), purchasing $118 million worth of shares in Q2. This bet on the tech giant is likely due to its dominance in cloud computing services and the growing demand for computing power.
The AI market requires more computing power, and AWS (Amazon Web Services) is the world's No. 1 provider of cloud computing services. The company's growth rate continues to accelerate, with revenue growth in the cloud unit increasing to 37% in Q2 from 28% in Q1.
Thiel Macro previously held a portfolio of eight stocks at the end of Q2, with Amazon making up 28% of its holdings. This is a significant investment for the hedge fund, which has been relatively quiet over the past few quarters.