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Harvard University Stock Portfolio 2026: Top 10 Picks. Amazon.com (NASDAQ:AMZN) ranks #4 (see Harvard University Stock Portfolio 2026: Top 5 Picks).
Harvard’s Stake: $149,441,848
Amazon.com (NASDAQ:AMZN) is among the top beneficiaries of the AI revolution, yet its stock hasn’t received nearly the same appreciation as peers like Google and Nvidia — which many analysts see as a clear opportunity. Its AWS cloud platform is used by more than 90% of the Fortune 100, making it the largest cloud provider globally and the backbone of enterprise cloud infrastructure. Amazon.com (NASDAQ:AMZN) has committed $200 billion in CapEx for 2026 — the largest AI capital budget of any company in the world. A big part of that is going toward Amazon’s own custom AI chips, called Trainium, which have been gaining serious traction. Amazon deployed over 2.1 million AI chips in the past 12 months, with Trainium now accounting for more than half of those deployments. The chip business has secured major compute deals including 2 gigawatts with OpenAI and 5 gigawatts with Anthropic.
Beyond infrastructure, Amazon.com (NASDAQ:AMZN) holds significant equity stakes in OpenAI, acquired for $50 billion, and approximately a 17% stake in Anthropic. Amazon’s advertising business has quietly become the third largest in the world behind Google and Meta, generating over $15 billion per quarter in largely high-margin revenue.
Photo by Austin Distel on Unsplash
Artisan Value Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2026 investor letter:
“We initiated four new positions in Q1, an above-average pace of activity. Typically, we add 1–2 new positions per quarter, averaging 1.7 per quarter over the past 5 years. Increased market volatility and greater dispersion in US equities created more opportunities to invest in companies that meet our three margin of safety criteria: attractive business economics, sound financial condition and compelling valuation. We also used …. (Click Here to Read the Letter in Detail).”
While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
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