5 Quantum Computing Stocks Billionaires Are Loading Up On

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

Number of Billionaire Investors: 31

Dollar Value of Billionaire Holdings: $9,255,613,068

Number of Hedge Fund Holders: 243

Amazon.com, Inc. (NASDAQ:AMZN) has developed the Amazon Braket, which is a cloud-based service offered by Amazon Web Services (AWS). The service provides access to quantum computing resources. It aims to enable developers, researchers, and businesses to experiment with, explore, and develop quantum algorithms and applications. In May 2023, the service included Aria in its portfolio. Aria is IonQ’s latest quantum machine and has the built-in ability to mitigate errors. This is the second quantum computing system that IonQ has shared with Amazon Braket.

Here’s what Vulcan Value Partners said about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2023 investor letter:

“Additionally, Skyworks Solutions, Amazon.com, Inc. (NASDAQ:AMZN), and TransDigm Group were all material contributors during the quarter. We have discussed these companies at length in prior letters. Despite slowing growth and macro headwinds, Amazon experienced revenue growth in all three segments: AWS, Advertising, and Retail. Amazon is also addressing its cost structure to better align with its slower growth rates. We believe Amazon is a dominant, world-class company with powerful secular tailwinds. All three of these companies are executing well, their theses are intact, and we are pleased to own them at a discount to our estimate of intrinsic value.”