Amazon Among Top AI Stocks for Billionaire Richard Chilton

Billionaire investor Richard Chilton, founder of Chilton Investment, has included Amazon.com, Inc. (NASDAQ:AMZN) in his list of the 10 best stocks to buy in the artificial intelligence space. The eCommerce giant's shares have risen a modest 4.5% over the past year and are flat year-to-date.

Rating Change

Chilton did not change his rating but added the stock to his preferred list. Meanwhile, Bank of America maintained a Buy rating on June 18, as reported by Investing.com.

Analyst Rationale

Chilton sees Amazon's competitive advantages in AI, particularly through its AWS cloud services and eCommerce platform. He believes the company's AI investments will drive long-term growth.

Context

Amazon's stock is trading near its 52-week high but has not seen significant gains this year. Other analysts, such as Jefferies, also recommend buying with a price target of $225.

What to Make of It

Inclusion in Chilton's list reflects confidence among major investors in Amazon's ability to leverage AI. However, the stock's flat performance this year warrants caution amid regulatory and competitive challenges.