Thiel Macro Bets Big on Amazon Amid Cloud Computing Boom

Peter Thiel's hedge fund, Thiel Macro, has made a significant investment in Amazon (NASDAQ: AMZN), acquiring $118 million worth of shares in Q2. This is the largest stock purchase for the fund this quarter and accounts for nearly 28% of its portfolio.

The move is seen as a bet on cloud computing, an area where Amazon Web Services (AWS) dominates the market. As more data centers come online, AWS' growth rate will continue to accelerate, sending Amazon's profits soaring. The company expects to spend $220 billion on capital expenditures this year, most of which will go towards building new data centers.

AWS has already shown impressive growth, with revenue increasing 37% in Q2, up from 28% in Q1. As the cloud computing provider continues to expand its infrastructure, Amazon's profits are expected to grow at an outsize pace.