American Politicians are Buying These 5 AI Stocks

2. Amazon.com Inc (NASDAQ:AMZN)

Number of Hedge Fund Investors: 293

Amazon.com Inc (NASDAQ:AMZN) is one of the favorite AI stocks of the Wall Street, as Amazon Web Services offers software and Cloud infrastructure for companies to develop and deploy AI applications. American politicians are also buying this AI stock. Republican Congressman Brian Mast on March 4 bought just $350 worth of shares in Amazon.com Inc (NASDAQ:AMZN). Congressman Earl Blumenauer had piled into Amazon.com Inc (NASDAQ:AMZN) as he bought a stake worth about $15,000 to $50,000 in Amazon.com Inc (NASDAQ:AMZN) on February 12. Since then the stock is up over 4%.

Ithaka US Growth Strategy stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its first quarter 2024 investor letter:

“Founded in 1994, Amazon.com, Inc. (NASDAQ:AMZN) has evolved from its early roots as an online bookstore to become one of the world’s largest eCommerce retailers. At the end of 2022 Amazon stood poised to capture ~40% of all US e-commerce sales, representing five times more share than the next closest competitor. In addition to eCommerce, Amazon Web Services (“AWS”) has become the market leader in outsourced cloud infrastructure. Further, Amazon Advertising is garnering significant share in digital advertising, particularly product placement ads, thanks to consumers beginning their product searches on Amazon’s site. Amazon’s stock appreciated on the back of stabilization of the company’s cloud computing segment and increased confidence the company would be able to contain expenses and push operating margins above prior peaks in the near-to-medium term.”