Thiel Macro Bets Big on Amazon with $118 Million Investment

Peter Thiel's investment fund, Thiel Macro, has made Amazon its largest holding after scooping up nearly $118 million worth of stock during the second quarter. This represents a significant bet on the company, with Amazon accounting for 28% of Thiel Macro's $418.7 million portfolio.

The timing of this investment was deliberate and well-placed, as Amazon shares surged roughly 14% on July 31 following a blockbuster earnings report that impressed investors across the board. The stock later closed at $278.09 on August 10, up approximately 19% for the year at that point.

The core driver behind the rally was Amazon Web Services (AWS), which posted sales growth of 37% to $42.2 billion, its fastest expansion in 18 quarters and well above the roughly 31% growth Wall Street had forecast. AWS operating income climbed to $16.6 billion, representing 60% of Amazon's total $27.5 billion in operating profit for the quarter.

The fund's broader portfolio reveals a deliberate strategy centered on controlling infrastructure bottlenecks powering the AI boom, rather than simply chasing software or semiconductor names. Roughly 72% of the portfolio is concentrated across energy and power stocks, including Vista Energy, Vistra Corp, American Electric Power, DTE Energy, FirstEnergy, and CMS Energy.