Thiel Macro Loads Up on Amazon as Cloud Computing Dominance Continues

Peter Thiel's hedge fund, Thiel Macro, has made a significant investment in Amazon (AMZN), which now accounts for 28% of its portfolio. The $118 million bet on Amazon is a result of the company's dominance in cloud computing, with Amazon Web Services (AWS) experiencing rapid growth. In Q2, AWS' revenue grew by 37%, up from 28% in Q1, and the company expects to spend $220 billion on capital expenditures this year.

The investment is a smart move, according to some analysts, as AWS now produces 60% of Amazon's operating profits. The growth rate of AWS is expected to continue accelerating with more data centers coming online. This is a big deal for Amazon, and investors would be wise to consider loading up on shares while they're still relatively cheap.