13F filings show that fund managers like Bill Ackman and Stanley Druckenmiller bought Amazon (AMZN) shares in Q4. The stock is currently cheaper than it was during that time. The main focus for growth is AWS, which generates more than half of Amazon's operating profits. AWS is seeing high demand for its custom Trainium AI chips because they are cheaper to use for training models than standard GPUs. AMZN is trading at 27 times forward earnings.