Thiel Macro isn’t your run-of-the-mill hedge fund. It may load up on a handful of stocks in one quarter, then sell everything and be perfectly content with sitting 100% in cash the next. The hedge fund has been quiet for a few quarters, mostly sitting on cash. Before this quarter, it last held stocks in Q3 2025 — those were Tesla, Microsoft, and Apple. However, the fund closed\u00a0all of those positions sometime in Q4. <\/p>\n The fund owned no stocks at the end of Q4 2025 or Q1 2026, but it purchased a handful of stocks in Q2. While the fund held a total of eight stocks at the end of the quarter, the biggest holding by far was Amazon (NASDAQ: AMZN), which at $118 million accounted for 28% of the portfolio. That’s a huge bet, and I think there’s a clear reason why Thiel made it: cloud computing.<\/a> <\/p>\n We are currently in a compute-constrained environment, and the cloud computing providers control the pricing on a scarce resource. Furthermore, Amazon expects to spend $220 billion on capital expenditures this year, most of which will go toward building data centers. Once these facilities are up and running, they will produce an incredible amount of new revenue and cash flow, which could send its stock soaring. <\/p>\n We’re already seeing the results of some earlier investments in Amazon Web Services (AWS). In Q2, revenue growth in the cloud unit accelerated to 37%, up from 28% in Q1. As more new data centers come online, this growth rate will continue to accelerate, which is a big deal for Amazon. AWS now produces 60% of Amazon’s operating profits, so as long as AWS is growing faster than the company’s commerce business, Amazon’s profits will continue to grow at an outsize pace. <\/p>\n Thiel Macro’s investment was a smart move, and I’m a big fan. I think Amazon will be a top AI stock pick over the next few years, and investors would be smart to load up on shares while they’re still relatively cheap.<\/a> <\/p>\n Should you buy stock in Amazon right now? <\/p>\n Before you buy stock in Amazon, consider this: <\/p>\n The Motley Fool Stock Advisor analyst team just identified what they believe are the\u00a010 best stocks<\/a> for investors to buy now\u2026 and Amazon wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. <\/p>\n Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation,\u00a0you’d have $432,189!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,330,956!* <\/p>\n Now, it’s worth noting\u00a0Stock Advisor’s total average return is 967% \u2014 a market-crushing outperformance compared to 212% for the S&P 500.\u00a0Don’t miss the latest top 10 list, available with\u00a0Stock Advisor, and join an investing community built by individual investors for individual investors. <\/p>\n See the 10 stocks \u00bb<\/a> <\/p>\n *Stock Advisor returns as of August 21, 2026. <\/p>\n Keithen Drury<\/a> has positions in Amazon, Microsoft, and Tesla. The Motley Fool has positions in and recommends Amazon, Apple, Microsoft, Palantir Technologies, and Tesla. The Motley Fool has a disclosure policy<\/a>. <\/p>\n<\/a> Image source: Getty Images. A hedge fund that picks its moments <\/p>\n