Stocks
Thiel Makes Amazon Top Investment Amid AI Growth
Peter Thiel, billionaire co-founder of Palantir and early investor in Facebook, has made his top position an AI stock that's climbed 200,000% since its IPO.
The company is Amazon (NASDAQ:AMZN), which generates billions from AI and benefits from its own use, sales, and development. Thiel purchased over $495,000 of Amazon shares in the latest quarter, representing 28% of his portfolio.
This move follows two quarters where Thiel's fund, Thiel Macro, had zero investments. In the recent three-month period, he invested more than $418 million across eight companies, with most being energy stocks that could fuel AI growth.