Warren Buffett Loves This 1 Artificial Intelligence (AI) Stock
Warren Buffett isn't known for his tech investing -- even less so, artificial intelligence (AI) stocks. But right now, Buffett's holding company has bet nearly $2 billion on a business that sits at the center of the AI revolution. Most investors don't realize this well-known company is an AI giant, making the stock a solid long-term bet for those looking to follow one of Buffett's biggest positions right now.Most people think of Amazon (NASDAQ: AMZN) as an e-commerce business. And that's certainly true. Nearly 40% of all e-commerce sales in the U.S. are facilitated through Amazon. And most of Amazon's revenue still is generated from digital retail sales.But when you look at operating profits, the story shifts dramatically. Most of Amazon's operating profits are generated by its Amazon Web Services division, more commonly referred to simply as AWS. So while AWS contributes less than 20% of total sales, it's the primary contributor of Amazon's profitability. Continue reading
Warren Buffett isn't known for his tech investing -- even less so, artificial intelligence (AI) stocks. But right now, Buffett's holding company has bet nearly $2 billion on a business that sits at the center of the AI revolution. Most investors don't realize this well-known company is an AI giant, making the stock a solid long-term bet for those looking to follow one of Buffett's biggest positions right now.
Most people think of Amazon (NASDAQ: AMZN) as an e-commerce business. And that's certainly true. Nearly 40% of all e-commerce sales in the U.S. are facilitated through Amazon. And most of Amazon's revenue still is generated from digital retail sales.
But when you look at operating profits, the story shifts dramatically. Most of Amazon's operating profits are generated by its Amazon Web Services division, more commonly referred to simply as AWS. So while AWS contributes less than 20% of total sales, it's the primary contributor of Amazon's profitability.
