Posted 1/21/2024, 6:52:00 PM
Buffett and Wood Both Betting on Amazon's AI Future Even as Cloud and New Initiatives Promise Growth
- Amazon is the only AI stock owned by both Warren Buffett and Cathie Wood, though both have small positions
- Amazon has used AI for over 20 years, including in recommendations and Alexa
- Amazon Web Services (AWS) is a big AI opportunity as companies want to bring models to data in the cloud
- Amazon continues to expand into new markets like healthcare and cars
- The article recommends adding to positions in Amazon as its profits rise and cloud growth prospects are massive