1. Amazon.com, Inc. (NASDAQ:AMZN)
Expected Five-Year Earnings Growth: 21.61%
Number of Hedge Fund Holders: 353
Bridgewater Associates Equity Stake: $914.04 Million
Amazon.com, Inc. (NASDAQ:AMZN) is one of the best growth stocks to buy, according to billionaire Ray Dalio’s Bridgewater Associates. On June 11, Amazon.com, Inc. (NASDAQ:AMZN) announced the full rollout of Alexa+, its generative AI-powered assistant, across Canada. Prime members can access it at no extra cost, while non-Prime users pay $27.99 CAD per month. The service supports both English and French and is available on enabled devices, browsers, and the Alexa app.
Amazon reported strong adoption, with Canadians engaging twice as much compared to the previous version. Smart home usage rose 60%, recipe requests increased fivefold, and French-language interactions surpassed 450 million in the past year. Canadians now engage with Alexa over half a billion times monthly and stream more than 50 million hours of music through Echo devices.
Alexa+ integrates with local services like CBC, OpenTable, and Fodors, with upcoming additions including Yelp, Uber Eats, Suno, and TripAdvisor. It can manage smart homes, book restaurants, plan trips, and search products online.
Developed with contributions from Amazon’s Toronto and Vancouver tech hubs, Alexa+ uses multiple large language models to deliver real-time, AI-driven experiences. The expansion reflects Amazon’s vision of embedding AI into everyday life, offering Canadians a seamless, multilingual assistant that enhances convenience and productivity.
Meanwhile, Amazon has secured a $17.5 billion loan from lenders, including Citibank, to ramp up its artificial intelligence infrastructure. The delayed draw term loan facility enables the company to withdraw funds as needed rather than receive the entire amount at once. It builds on the company filing a five-part debt offering in Canada, through which it will access C$14 billion in financing.
Amazon.com, Inc. (NASDAQ:AMZN) is a massive technology and e-commerce company. It is best known for its global online retail marketplace, but it also dominates cloud computing, digital streaming, artificial intelligence, and consumer electronics.
While we acknowledge the potential of AMZN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about the cheapest AI stock.
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