Billionaire Investor Bets Bigger On Amazon As Cloud, AI Soar
Dan Loeb's Third Point increased its Amazon stake to 2.81 million shares, driven by strong Q3 sales and AWS, AI growth. Amazon's Q3 net sales of $180.2 billion exceeded estimates, with EPS of $1.95. Analysts raised price forecasts, highlighting margin expansion and AI's role in profitability. Amazon plans a $35 billion investment in India's AI sector and is in talks to invest $10 billion in OpenAI. Amazon shares rose 5.31% YTD, lagging behind peers Alibaba and PDD Holdings.
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