Billionaire Ken Fisher Loves These 5 AI Stocks

4. Amazon.com Inc (NASDAQ:AMZN)

Ken Fisher’s Q1’2024 Stake: $7,678,116,830

Amazon.com Inc’s (NASDAQ:AMZN) latest quarterly results show thatAmazon.com Inc’s (NASDAQ:AMZN) AWS is playing a key role in the AI ecosystem as companies use the Cloud service to develop and deploy their AI apps. After Amazon.com Inc’s (NASDAQ:AMZN) latest results, Citi analyst Ronald Josey  said that AWS demand is rising and generative AI is becoming a “multi-billion” annual recurring revenue stream for Amazon.com Inc (NASDAQ:AMZN).

Vulcan Value Partners stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its first quarter 2024 investor letter:

Amazon.com, Inc. (NASDAQ:AMZN) is a dominant, world class company with powerful secular tailwinds in place including its ecommerce penetration, digital advertising growth, and the cloud transition. Amazon reported strong results during the quarter. Losses in the Core Retail business significantly narrowed. Amazon reduced its cost to serve on a per unit basis for the first time since 2018 as the company’s recent regionalization efforts continue to bear fruit.”