Amazon.com, Inc. (AMZN): Billionaire Steve Cohen Is Buying This Tech Stock

Amazon.com, Inc. (NASDAQ:AMZN) is one of the 10 Best Stocks to Invest In According to Billionaire Steve Cohen.

Amazon.com, Inc. (NASDAQ:AMZN) has consistently featured in the 13F portfolio of Point72 Asset Management for more than a decade. The fund first disclosed a stake in the company back in the third quarter of 2014. This position comprised 2 million shares. By the second quarter of 2016, the fund had increased this to over 13 million shares. A cool-off period followed, during which Cohen trimmed this stake and brought it under 5 million shares. Latest filings, submitted at the end of the fourth quarter of 2025, show that the fund owned 5.2 million shares in the company, up 68% compared to filings for the previous quarter.

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Amazon.com, Inc. (NASDAQ:AMZN) is turning heads on Wall Street not just because of AI but the growth inflection at Amazon Web Services, which has returned to its fastest growth rates since 2022. In early 2026, AWS reported that virtually all new capacity added is immediately purchased by customers. As of Q1 2026, Amazon’s cloud backlog has reached a staggering $200 billion. This massive, committed revenue provides a safety net that few other tech giants can match. Hedge funds are also rewarding Amazon for its Trainium3 and Graviton5 chips. These custom processors allow AWS to offer AI training at a significantly lower cost than competitors reliant solely on third-party hardware, protecting long-term margins.

While we acknowledge the risk and potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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