Peter Thiel makes Amazon his top stock: what he bought next is more revealing

Peter Thiel’s latest 13F filing shows Amazon as his largest disclosed U.S. equity holding, with about $118 million invested, or 28.2% of the portfolio. The article argues the bigger signal is his heavy tilt toward power and energy infrastructure, with roughly 72% of disclosed value in utilities, generators, and energy names such as Vistra, American Electric Power, DTE Energy, FirstEnergy, CMS Energy, Vista Energy, and X-Energy. The setup suggests a thematic bet on AI-driven data-center demand: AWS grew 37% year over year to $42.2 billion in Q2, and Amazon raised 2026 capex guidance to about $220 billion. Market implications are bullish for AMZN as a direct AI infrastructure play and potentially for utilities and power suppliers benefiting from rising electricity demand, though the trade faces risks if regulators increase supply or if Amazon’s spending fails to translate into durable profit growth.