Meet The Newest Artificial Intelligence (AI) Stock That Billionaire Stanley Druckenmiller Just Bought in His Duquesne Family Office

One of the largest investments that hedge fund manager Stanley Druckenmiller made in his family office last quarter was a repurchase of Amazon (NASDAQ: AMZN) stock. Druckenmiller had been a shareholder for many years but decided to take over 2% of his portfolio and buy the "Magnificent 7" stock at some point in the third quarter, according to SEC filings. So, what does the veteran investor see in the cloud computing and e-commerce company? Most likely, he sees an underappreciated artificial intelligence (AI) story and accelerating revenue growth. Below, I'll review the state of Amazon after reporting its third-quarter earnings, and why the stock might be a buy for investors today.Compared to competitors Microsoft Azure and Alphabet's Google Cloud, Amazon has been considered a laggard in AI with Amazon Web Services (AWS), its cloud computing division. AWS is larger than these competitors but growing slightly slower, which has put out a narrative of fear around the leader in cloud infrastructure losing market share because it's falling behind in AI capabilities.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool