Amazon.com Inc. (AMZN): D. E. Shaw Turns Bullish on Tech Giant

Amazon.com, Inc. (NASDAQ:AMZN) features on the D. E. Shaw Stock Portfolio: Top 10 Stocks to Buy.

D. E. Shaw has been bullish on the long-term prospects of Amazon.com, Inc. (NASDAQ:AMZN) stock for more than a decade and a half. The fund has held a sizable stake in the technology giant since the fourth quarter of 2010. Although the stake initially comprised only 2.2 million shares, it has since grown. In the second quarter of 2012, it comprised close to 32 million shares. Filings for the fourth quarter of 2025 show that the fund upped the stake by almost 87% compared to filings for the previous quarter. It comprises more than 6 million shares presently. The loading up of the stock marks the first time in eight quarters that the fund has not trimmed this holding but instead increased it.

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Amazon.com, Inc. (NASDAQ:AMZN) is one-upping competitors in the AI space through the $200 billion capital expenditure plan that is giving the firm a custom silicon advantage. Amazon’s in-house chips, like Trainium and Graviton, now generate over $10 billion in annualized revenue. By owning the silicon layer, Amazon can offer AI compute at a significantly lower cost than competitors who rely solely on third-party GPUs, a structural advantage that hedge funds believe will lead to superior long-term margins. Another catalyst for the stock is the advertising business, which has quietly reached an $80 billion annualized run rate, carrying significantly higher margins than the core retail business.

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