Peter Thiel invests $118 million in surging big tech stock

Peter Thiel’s Thiel Macro returned to public equities in Q2 with a $418.7 million portfolio after holding no 13F positions in prior quarters. The standout move was a nearly $118 million new stake in Amazon, now the fund’s largest holding at 28% of the portfolio. The article argues the buy reflects confidence in Amazon’s AI-linked cloud growth, especially AWS revenue up 37% to $42.2 billion, operating income of $16.6 billion, and a backlog that jumped to $496 billion from $364 billion. Amazon also lifted 2026 capex to $220 billion, but investors rewarded the spending because demand appears contracted. Thiel’s portfolio is also heavily tilted toward the AI power buildout, with most capital in energy and utility names, signaling a broader bet on electricity and nuclear capacity as key bottlenecks in AI infrastructure.