From MarketWatch: 2024-04-07 13:55:00

Ken Griffin founded Citadel in 1990, becoming the most successful hedge fund ever with a personal fortune of $37 billion. Citadel’s portfolio is heavy on artificial intelligence (AI) stocks, with one in particular that Griffin has more than tripled his investment in. Amazon (NASDAQ: AMZN) is Citadel’s fourth-largest holding, with Griffin increasing his position by nearly 227% in Q4 2023.

Griffin’s long history with Amazon dates back to 2013, with the stock proving to be a big winner for Citadel. Amazon’s focus on AI technology, including machine learning and virtual assistants like Alexa, aligns with Griffin’s recent investment surge. Amazon’s AI opportunities, especially in generative AI through AWS, position it for long-term growth.

Amazon’s profitability, growing revenue from advertising, and cloud services appeal to investors. Even without the allure of AI, Amazon is poised to capitalize on cloud migration trends. Stock Advisor analysts identified Amazon as a strong buy, offering investors a blueprint for portfolio success and high potential returns. Past Stock Advisor picks have outperformed the S&P 500 since 2002.

Randi Zuckerberg and John Mackey sit on The Motley Fool’s board of directors, with author Keith Speights holding positions in Amazon and Meta Platforms. The Motley Fool recommends and has positions in Amazon, Meta Platforms, and Nvidia, with a disclosure policy in place.



Read more at MarketWatch: Billionaire Ken Griffin Has More Than Tripled His Investment in This Artificial Intelligence (AI) Stock. Should You Buy It Too?