13 Best Cloud Stocks to Buy Now

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​3. Amazon.com, Inc. (NASDAQ:AMZN)

Market Capitalization: $2.32 billion

Analyst Upside Potential: 33.55%

Number of Hedge Fund Holders: 335

​Amazon.com, Inc. (NASDAQ:AMZN) is one of the Best Cloud Stocks to Buy Now. On November 21, Justin Post from the Bank of America Securities reiterated a Buy rating on the stock with a $303 price target. Earlier on November 19, Mark Shmulik from Bernstein had also reiterated a Buy rating on the stock with a $300 price target.

​The positive outlook on the stock follows the company’s recent partnership with HUMAIN, announced on November 19. Under this partnership, Amazon.com, Inc. (NASDAQ:AMZN) will work with HUMAIN, which is a Public Investment Fund company, to deploy and manage 150,000 AI accelerators in a data center facility called “AI Zone” in Riyadh, Saudi Arabia.

​The AI Zone would be a first-of-its-kind facility in Saudi Arabia, which will support NVIDIA’s latest GB300 AI infrastructure and Amazon.com, Inc.’s (NASDAQ:AMZN) Trainium AI chips. The release highlighted that the infrastructure at this facility will support a range of compute-intensive workloads, including model training and running inference of AI applications.

​In addition, HUMAIN will also join the company’s AWS Solution Provider Program, allowing customers to have access to AWS services. This collaboration builds upon the earlier announcement of a strategic collaboration between the two companies announced in May 2025, where the companies shared their joint investment plan of investing more than $5 billion in AI infrastructure in Saudi Arabia.

​​Amazon.com, Inc. (NASDAQ:AMZN) is a global retailer offering a wide range of products through online and physical stores, focusing on selection, price, and convenience.

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