Thiel Macro Bets Big on Cloud Computing with Massive Amazon Investment

Peter Thiel's hedge fund, Thiel Macro, has made significant investments in Amazon (AMZN), with the tech giant accounting for 28% of the portfolio.

The investment is seen as a bet on cloud computing, which is expected to drive growth and revenue for Amazon in the coming years.

AWS, Amazon's cloud unit, saw its revenue growth accelerate to 37% in Q2, up from 28% in Q1, with Thiel Macro seeing potential for continued acceleration as new data centers come online.

Amazon expects to spend $220 billion on capital expenditures this year, mostly towards building data centers that will produce a significant amount of new revenue and cash flow once operational.