5 Best Chatbot Stocks to Buy As ChatGPT Gains Market Share

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 240

Amazon.com, Inc. (NASDAQ:AMZN) is no stranger to AI. From AWS to its smart home systems and warehouses, Amazon.com, Inc. (NASDAQ:AMZN) uses AI everywhere. Amazon.com, Inc. (NASDAQ:AMZN)’s Alexa is one of the smartest AI-based assistants used by millions of people around the world. Being a giant in the Cloud computing and e-commerce space Amazon.com, Inc. (NASDAQ:AMZN) could leverage its dominance and join the AI wars to rival companies like Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOG).

At the end of the fourth quarter of last year, 240 hedge funds tracked by Insider Monkey had stakes in Amazon.com, Inc. (NASDAQ:AMZN). The total value of these stakes was over $27 billion. The biggest hedge fund stakeholder of Amazon.com, Inc. (NASDAQ:AMZN) was Natixis Global Asset Management’s Harris Associates which had a $1.6 billion stake in the company.

Baron Opportunity Fund made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2022 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services provider. Shares of Amazon were down in the quarter, as the company guided to relative weakness in margins and its cloud business, due to the same macro headwinds and optimization trends impacting Microsoft Azure. We believe that Amazon is well positioned to improve profitability back to historical levels, particularly in its core North American retail division. We have already seen some of this play out with reports of Amazon’s increased cost discipline and broad-based layoffs. Particularly within the internet and software sectors, we believe Amazon can sustain premium growth compared to the rest of the market, given its competitive strengths and scale. Longer term, Amazon has substantially more room to grow in e-commerce, where it has less than 15% penetration in its TAM, and cloud, where it is a clear leader in the vast and growing cloud infrastructure market.”